ErieView Development Secures $218 Million Financing for W Cleveland at Erieview Tower
ErieView Development has announced the closing of $218 million in financing for the redevelopment of Erieview Tower, a landmark 40-story building in downtown Cleveland that is set to undergo a major transformation into a mixed-use hospitality and residential destination. The redevelopment will convert the 1964-era tower at the intersection of East Ninth Street and St. Clair Avenue into W Cleveland, a 210-key hotel, along with 215 W Apartments.
The project is expected to bring the W Hotels brand to Ohio for the first time. The residential component is also positioned as a global first for the brand, with W Apartments planned exclusively as rental residences rather than for-sale units. Both the hotel and apartments are scheduled to open around late 2027.
The financing close represents a significant milestone for the redevelopment of one of Cleveland’s most recognizable high-rise properties. Through the project, ErieView Development aims to reposition the existing tower while creating a new destination that combines hospitality, residential living, dining, wellness, entertainment, and office amenities within a single building.
Transforming a Cleveland Landmark
Originally completed in 1964, Erieview Tower has long been a defining element of Cleveland’s downtown skyline. The redevelopment will preserve the building’s role as a prominent part of the city while introducing a contemporary mix of uses designed to serve residents, hotel guests, office tenants, and visitors.
Once completed, W Cleveland will feature 210 hotel keys and is anticipated to become the first W Hotel in Ohio. The accompanying 215 W Apartments will provide rental housing within the same property, creating a residential offering connected directly to the hotel’s extensive hospitality and amenity program.
The residential concept is particularly notable because W Apartments are traditionally associated with branded residences offered for purchase. By developing the 215 units specifically as rental apartments, ErieView Development is pursuing what it describes as the first W Apartments project worldwide to be developed exclusively for renters.
The development is expected to open around late 2027, bringing a new branded hospitality and residential experience to the heart of downtown Cleveland.
Extensive Amenity Program
A central feature of the redevelopment is its expansive amenity program, which ErieView Development describes as the most extensive assembled within a single building in Ohio.
The project is designed to allow residents and guests to move between many of the building’s services without having to leave the tower. For example, residents will be able to park in the heated, enclosed garage and access upper-floor amenities directly from within the building, an especially attractive feature during Cleveland’s winter months.
The planned amenities will extend across multiple levels and uses. A restaurant on the 38th floor is expected to provide dining and city views, while a lobby lounge will offer an additional gathering and social space.
The food-and-beverage program will serve multiple groups within the property. Residents, office tenants, and hotel guests will have access to the same collection of dining and hospitality services, with food and beverage delivery planned for both residential units and office floors.
The development will also include a spa and fitness center, providing wellness services directly within the tower. A 15,000-square-foot ballroom is planned to accommodate events, meetings, celebrations, and other large gatherings.
By integrating these features within the building, the project is designed to create an environment where hospitality, residential living, workplace functions, dining, wellness, and entertainment operate as part of a connected destination.
Broad Institutional Support
ErieView Development credited a broad group of public- and private-sector organizations for helping make the redevelopment possible. The financing and development effort involved reviews and commitments from institutions and agencies representing hospitality, finance, economic development, local government, and community development.
The organizations recognized by ErieView Development include Marriott International, Nuveen Green Capital, ERIEBANK, a division of CNB Bank, the Ohio Department of Development, the City of Cleveland and Cleveland City Council, Cuyahoga County, the Cleveland-Cuyahoga County Port Authority, and the Cuyahoga County Land Bank.
According to ErieView Development, each organization conducted its own review of the project and ultimately reached a similar conclusion regarding the potential of Erieview Tower and the surrounding corridor.
The involvement of these organizations reflects the scale and significance of the redevelopment, which requires coordination among developers, lenders, government agencies, hospitality partners, and local institutions.
A New Chapter for Erieview Tower
The $218 million financing close marks an important step toward the next chapter in the history of Erieview Tower. Rather than replacing the existing structure, the project will adapt the 1964 landmark for a new generation of uses, combining a branded hotel, rental residences, offices, restaurants, wellness facilities, event space, and other amenities.
The redevelopment is expected to strengthen the East Ninth Street and St. Clair Avenue corridor while contributing to Cleveland’s broader downtown revitalization efforts. The combination of W Cleveland and 215 W Apartments is also expected to introduce a distinctive hospitality and residential model to the Ohio market.
With construction moving toward an anticipated late-2027 opening, ErieView Development’s financing close provides a major foundation for the transformation of the landmark tower. When completed, W Cleveland and W Apartments are expected to create a highly integrated destination where residents, hotel guests, office workers, and visitors can access a broad range of services and amenities within a single Cleveland address.
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