Take a drive through Cleveland’s Gordon Square neighborhood, and it's the building that surely stands out.
$50 million went into the Welleon, a 7-story 127-unit apartment, restaurant, and wellness complex, where the first tenants have recently moved in.
A quick glance at Welleon's website and the price of these units also stand out, with a studio apartment starting at $1,300/month and some penthouse units listed at more than $5,000/month."I think what we’ve seen is a wide-ranging trend is people are investing in their homes, their lifestyle and the places they spend most of their time," Stizzi explained."With flexible work, people are looking for an additional space.
They’re investing around $3 million into converting their piece of the ground floor into an ultra high-end MedSpa called Soul Space, a wellness center called NuIQ Wellness Lounge, PureFYX Café and an event space. The Welleon development replaces what was once Club Azteca, one of Cleveland's first and most prominent Hispanic organizations, whose former building had become tax delinquent and structurally deficient.
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