CLEVELAND — Kassouf Development has closed on financing for the Erieview Tower & Galleria redevelopment in downtown Clevleand. The developer will convert the property into a dual-branded W Residences and W Hotels by Marriott project. Plans call for 227 residences and 210 luxury hotel rooms. Residents will have access to concierge services, housekeeping, a doorman, bellman and butler services in addition to all hospitality and experiential amenities as well as access to the connected retail Galleria. The hotel component will feature a rooftop bar, fine dining restaurant, spa, fitness center, lobby lounge, office spaces and a 15,000-square-foot ballroom. The project marks the first W Hotels offering in Ohio.
The development’s price tag is more than $218 million. The dual-branded W Residences and W Hotels concept is offered by Marriott worldwide, and there are eight locations in the United States. The existing Erieview Tower & Galleria is listed on the National Register of Historic Places. Construction will be completed in phases, with residential construction commencing immediately and hotel construction beginning later this year. Completion is slated for late 2026.
The Kassouf family purchased Erieview Tower in 2018 and has worked since the acquisition to secure the various capital sources needed to reposition the asset. Brown Gibbons Lang & Co. served as the exclusive financial advisor to Kassouf. Huntington National Bank, Midland States Bank, PPG, TurnDev, Cleveland-Cuyahoga County Port Authority, Peachtree PACE and the Ohio Brownfield Remediation Program provided development capital.