The 925 Building

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925 Euclid Avenue
Union Commerce.jpg
The former Huntington Bank Building
Former namesUnion Commerce Bank Building
General information
TypeOffice/Hotel/Retail/Residential (Mixed Use)
Location925 Euclid Avenue Cleveland, Ohio 44115 United States
Construction started1921
Completed1924
Cost12.234 Million
Height
Roof88.09 m (289 ft)
Technical details
Floor count21
Floor areaover 1,000,000 sq. ft.
Design and construction
ArchitectGraham, Anderson, Probst & White

The 925 Building, formerly known[1] as the Huntington Building, originally the Union Trust Building, is a high-rise office building on Euclid Avenue in the Nine-Twelve District of downtown Cleveland, Ohio, USA. When the building was completed in 1924, it was the second largest building in the world in terms of floor space, with more than 30 acres (12 hectares) of floor space.[2] It also included the world's largest bank lobby, which today remains among the largest in the world. The lobby features enormous marble Corinthian columns, barrel vaulted ceilings, and colorful murals by Jules Guerin.

The Huntington Building's facade facing East 9th Street

Design and history[edit]

The 289 foot (88 meters)[3] tall building was designed by the firm of Graham, Anderson, Probst & White, who were also responsible for the design of the Terminal Tower. It was renovated in 1975 under the direction of Cleveland architect Peter van Dijk, and again by Hines Properties in 1991. The building features a rooftop ticket lobby and waiting room designed for dirigible flights to New York and Chicago; the roof was never utilized because of the high winds from Lake Erie.[4] In June 2010 it was purchased for $18.5 million by Optima International,[5] a Miami-based real estate investment firm led by Chaim Schochet and 2/3rd owned by the Privat Group, one of Ukraine's largest business and banking groups.[6] Originally contemplating closing the building due to a very high vacancy rate,[7] Chaim Chochet and Chip Marous proposed in September 2014 a $231 million renovation of the building into a mixed-used facility combining offices, apartments, condominiums and a boutique hotel.[8] In June 2015, Terry Coyne, a commercial real estate broker from Newmark, negotiated the sale to Hudson Holdings LLC for $22 million.[9] Hudson began a $280 million renovation of the building which will feature 550 apartments, a 300-room, high-end hotel, 200,000 square feet of retail, a banquet hall, conference space, and a lobby open to the public.[4]

On May 4, 2018, Hudson sold the property to Cleveland-based The Millennia Companies.[10] Millennia announced in November 2018 that project would henceforth be known as The Centennial, and that the company would spend roughly $270 million renovating the structure.[11]

See also[edit]

References[edit]

  1. ^ http://www.cleveland.com/business/index.ssf/2015/06/new_owner_of_huntington_buildi.html
  2. ^ Johannesen, Eric. Cleveland Architecture 1876-1976, Western Reserve Historical Society, 1979. ISBN 978-0-911704-21-1
  3. ^ Emporis.com: Huntington Bank Building. Accessed October 10, 2006.
  4. ^ a b Cleveland Jewish News: "Florida developer banking on Huntington Building rebirth" by CARLO WOLFF August 3, 2015
  5. ^ Jarboe, Michelle (June 23, 2010). "Miami investor buys Cleveland's Huntington Building for bargain price". The Plain Dealer. Cleveland, Ohio. Retrieved June 23, 2010.
  6. ^ Cleveland Plain Dealer: "The most important guy you've never heard of: Chaim Schochet, 25, builds downtown Cleveland empire" By Michelle Jarboe McFee February 04, 2012
  7. ^ Crains's Cleveland Business: "Owner may close former Huntington Building if county locates HQ elsewhere"By JAY MILLER and STAN BULLARD January 21, 2013
  8. ^ Crain's Cleveland Business: "Former Huntington Building would be revamped as mixed-use development in $231 million project" By STAN BULLARD September 09, 2014
  9. ^ Crain's Cleveland Business: "Former Huntington Building to undergo $280 million transformation into mixed-use property" June 16, 2015
  10. ^ Jarboe, Michelle (May 4, 2018). "Millennia buys downtown Cleveland's near-vacant 925 Building in $40 million deal". The Plain Dealer. Cleveland, Ohio. Retrieved May 5, 2018.
  11. ^ Bullard, Stan (November 27, 2018). "Millennia Cos. has a name for its $270 million renovation project in downtown Cleveland: The Centennial". Crain's Cleveland Business. Retrieved November 29, 2018.

External links[edit]

Coordinates: 41°30′1.91″N 81°41′11.84″W / 41.5005306°N 81.6866222°W / 41.5005306; -81.6866222