Proposed new signage on the front of the historic New England Building, also called the Guardian Building, on Euclid Avenue will replace that of the current hotelier, a Holiday Inn Express (Mira Development). CLICK IMAGES TO ENLARGE THEM.
AC Hotel replacing Holiday Inn Express
After 26 years in business, Downtown Cleveland’s Holiday Inn Express, 629 Euclid Ave., will close. But its already got a replacement lined up in the form of an AC Hotel by Marriott, according to a developer leading the transformation.
Redeveloping the hotel is a partnership of the property owner Cleveland-based MRN Ltd., Moment Development of Columbus, and Indianapolis-based Mira Development which also has offices in Chicago, Greater Seattle and Louisville, KY. Mira announced the change on its Web site.
“Mira Development has partnered with Moment Development and MRN, Ltd. to redevelop this 141-room Holiday Inn Express hotel into an AC Hotel by Marriott,” Mira announced. “Located in downtown Cleveland, construction of this hotel is expected to begin in summer of 2025.”
The hotel is expect to open sometime in 2026. The number of hotel rooms won’t change nor will the floor space occupied by the hotel, which measures about 81,000 square feet, according to Mira. But the property will get a much-needed freshening-up with modern interiors, if the renderings are any indication.
“Mira Development is co-managing the pre-development process with conjunction with MRN, and overseeing brand selection and design coordination with Marriott,” the Web site added. “MRN and Mira are jointly managing capital strategy, deal structuring, and securing the historic tax credit and opportunity zone requirements.”
Proposed renovations to the hotel lobby for the new AC Hotel by Marriott at 629 Euclid Ave. in Downtown Cleveland (Mira Development).
NEOtrans reached out to MRN’s Chief Operating Officer Joseph Del Re and to a web-based contact query at Mira for comment and additional information. Neither responded prior to publication of this article.
This will be the first AC Hotel in Downtown Cleveland. Despite the long-overdue updating of the hotel property, the replacement of the budget-priced Holiday Inn Express with the midscale hotel chain owned by Marriott will likely lead to an increase of prices.
Also, the existing Holiday Inn is part of the InterContinental Hotels Group, marketed as IHG Hotels & Resorts, is a British company. Losing a variety of options with different flags in Downtown Cleveland, which is already dominated by Marriott, may reduce booking options for travelers, especially brand-loyal ones.
Via its affiliate 629 Euclid Ltd., MRN will retain its ownership of the 1896-built New England Building, also called the Guardian Bank Building. On its ground floor, it has the swanky Marble Room restaurant and Peter Haluszka’s Barbering. Upstairs, the 17-story building has a mix of offices, apartments and condominiums.
Proposed bar at the new AC Hotel by Marriott, in the space currently occupied by the Holiday Inn Express in Downtown Cleveland (Mira Development).
The offices include the headquarters of Stark Enterprises real estate company. The apartments are the 45-unit Lofts at 629 Euclid. And The Guardian condos, simply named the 629 Euclid Ave Condos, are the latest addition — first reported by NEOtrans.
Located on the 15th and 17th floors, they are the newest for-sale housing downtown where little for-sale product is available. County property records show they’re selling fast, too., with only one listed as available, priced at $750,000.
When the New England Building was built in 1896, it was one of the tallest in the United States and the tallest in Cleveland at 221 feet. It was the headquarters for the Guardian Bank and National City Bank until it built a new tower in 1980 at Euclid and East 9th Street.
The New England Building was listed on the National Register of Historic Places in 2000. The 17th floor was added in 2010 for office tenant Rosetta, a digital marketing agency. But the firm reduced its operations here and gave back space to the landlord which was converted to residential.
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