Leaders of the institutions that anchor University Circle have long wished for a hotel within walking distance of all of the amenities that the neighborhood has to offer. Now, a public-private partnership, along with $15 million in New Markets Tax Credits and completion of the University Hospitals Seidman Cancer Center, have finally brought that idea to life.

This month, The Snavely Group broke ground on an eight-story, 153-room Courtyard by Marriott that is scheduled to open this time next year. The hotel is located on Cornell Drive -- just off of Euclid Avenue -- and directly across from the new Seidman Cancer Center and the University Hospitals main campus. The $27 million project is expected to create 135 construction jobs and 55 full-time equivalent jobs.

"The anchor of the Seidman Cancer Center has really given us a market," says Chris Ronayne, President of University Circle Incorporated (UCI), the nonprofit organization that shepherded the project along by assembling the land, securing tax credits and seeking a developer. "Beyond patients and their families, that market is also students, parents, businesspeople and culture-goers."

The new hotel also adds to the impressive development boom that has occurred in University Circle. "This location is the epicenter of a $2 billion Euclid Avenue transformation from East 105th to Lakeview Cemetery," says Ronayne.

Source: Chris Ronayne
Writer: Lee Chilcote