The nonprofit Playhouse Square Foundation plans to build a 34-story, 378-ft.-tall tower containing more than 300 apartments on the edge of the theater district in downtown Cleveland, The Plain Dealer reported. The organization also plans a six-level parking garage topped by resident amenities. The location is at East 17th Street and Euclid Avenue. Global real-estate firm Hines would serve as development manager. A market study Playhouse commissioned showed vacancy is still low and demand high for downtown Cleveland, which will be able to accommodate at least 500 new apartments each year for the next five years. Groundbreaking is anticipated by the end of the year, with the project opening by 2020.
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