Cleveland City Council last week approved a 10-year, 60 per cent tax abatement for the Residence Inn University Circle/Medical Center at East 101st Street and Chester Avenue. A city analysis of the project estimated it will create 200 construction and 43 permanent, full-time-equivalent jobs.
Alexander DelMonte, president of the DelMonte Hotel Group, which will manage the hotel, said the $38 million, eight-storey property should open in December 2018. The 175 suites will be a mix of studio and one-bedroom units, DelMonte said.
The hotel will be linked to the existing Innova apartment complex by a second phase of 70 apartments.
Finch Group reveals Residence Inn plans for Cleveland
Developer The Finch Group's plans for the Innova complex in Cleveland include a 175-suite Residence Inn extended stay hotel.
“It’s been great, you have representation from the larger, more traditional operators as well as the new and emerging aparthotel operators. It’s fantastic to see them interacting with each other and it’s been great to be here.
Ariel Maidansky, CEO and co-founder, Envizzo - 2019
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