Welleon apartments are nearly all leased less than a year after opening

Second apartment complex next to Herman Park

Herman Park may be in need of updating, but its presence is enough to attract a second proposed apartment building to rise next to it. Conceptual designs for that building, located at 6400 Herman Ave. in Cleveland’s Gordon Square neighborhood, were approved yesterday by a neighborhood design-review panel and referred to the City Planning Commission’s Design Review Committee.

Welleon gets an ‘A’ in testing Cleveland’s market

Ken Prendergast / July 23, 2024

It used to be rare to see a newly constructed Cleveland apartment building filling out at rents of more than $2 per square foot and leasing out in less than two years. But those were the old days — “way back” in the 2010s. Today, it’s common to see luxury buildings, even those that are not downtown skyscrapers, rent out in a year or less. But not at the rents Welleon just commanded.

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