The Centennial (Cleveland)
| Formerly | The 925 Building, Huntington Building, Union Commerce Building, Union Trust Building |
|---|---|
| Company type | Mixed-use building |
| Industry | Real estate, commercial offices, residential, hospitality |
| Founded | 1924 |
| Headquarters | Cleveland , United States |
Key people | Chaim Schochet (Optima International), Terry Coyne (broker), Chip Marous (developer) |
| Products | Office space, residential apartments and condominiums, boutique hotel, retail space |
| Owner | The Millennia Companies (as of 2018) |
The Centennial, once known as The 925 Building, Huntington Building, and Union Commerce Building, was originally called the Union Trust Building. This prominent high-rise office tower is situated on Euclid Avenue within Cleveland's Nine-Twelve District downtown. Finished in 1924, it ranked as the world's second largest structure by total floor area at that time, encompassing more than 1,000,000 square feet. Its interior boasted the largest bank lobby globally, adorned with marble Corinthian columns, barrel-vaulted ceilings, and murals created by Jules Guerin.
Design and history
Standing 289 feet (88 meters) tall, the building was crafted by the architectural firm Graham, Anderson, Probst & White, who also designed the Terminal Tower. The structure underwent a renovation in 1975 led by Cleveland architect Peter van Dijk and another extensive update in 1991 managed by Hines Properties. In June 2010, Miami-based Optima International, headed by Chaim Schochet and predominantly owned by Ukraine’s Privat Group, acquired the property for $18.5 million. Facing significant vacancy challenges, Schochet and Chip Marous proposed a $231 million redevelopment plan in 2014 aimed at converting the building into a mixed-use complex comprising offices, apartments, condominiums, and a boutique hotel.
By June 2015, commercial broker Terry Coyne facilitated its sale to Hudson Holdings LLC for $22 million. Hudson initiated an ambitious $280 million overhaul that included adding 550 residential units, a 300-room luxury hotel, 200,000 square feet of retail areas, banquet and conference venues, along with a lobby accessible to the public.
Huntington Bank moved its regional headquarters to 200 Public Square in September 2011. On May 4, 2018, Hudson transferred ownership to Cleveland-based The Millennia Companies. Millennia announced plans for a $270 million renovation under the new designation The Centennial. By May 2021, the focus shifted from upscale housing to affordable living spaces intended to bolster downtown workforce recruitment efforts.
On December 1, 2023, Huntington Bank permanently closed its last branch within the building, concluding nearly one hundred years of banking services at this location.
See also
External links
- Huntington Building – Encyclopedia of Cleveland History