CLEVELAND, OHIO—Cleveland will be among a select handful of cities—including New York, Scottsdale, Ariz., and Washington D.C.—to be home to the 1 Hotel & Residences. The property will be located in the new Flats neighborhood. 1 is setting a standard in global environmentally-conscious luxury living, by combining five-star service and features with the finest sustainable architecture and interior design. The 16-story 1 Hotel & Residences will include approximately 150 guestrooms, high-tech meeting space, a nature-infused spa and an organic-based restaurant, along with exceptional views of the downtown skyline and the waterfront.
Flats East Development LLC, a joint venture between The Wolstein Group and Fairmount Properties that is reshaping the historic and long-neglected Flats neighborhood, announced that an agreement has been executed with the international real estate development firm Starwood Capital Group for the opening of a $48 million 1 Hotel project as part of the East Bank development.
“With Wolstein Group and the Fairmont properties as partners, we are thrilled to have 1 Hotel & Residences be part of the revitalization of downtown Cleveland,” said Barry Sternlicht, chairman and CEO of Starwood Capital Group. “The 1 concept of sustainable luxury will enhance the innovative, new green neighborhood in the Flats district.”
Residential Component Included
In addition to the hotel suites, the building is expected to include a residential component on the upper floors that will offer 50 condominiums ranging in size from 1,300 to 4,000 square feet, ranging in price from $400,000 to $2 million. 1 residents will have access to certain amenities offered by the hotel which are expected to include concierge services, hotel valet and in-room dining.
“These units will be the pinnacle in upscale living, with unprecedented quality, and what I suspect will be among the most spectacular residential experiences east of the Mississippi,” said Scott Wolstein, Flats East Bank developer. Wolstein added that the development will include other living options at a variety of price points.
Consistent to its founding mission, all 1 Hotel & Residences will be LEED-certified. The Natural Resources Defense Council (NRDC) will be an environmental advisor to the property. Plans for the 1 project include the promotion of eco-friendly transportation, health and wellness programs, organic food and beverages, an allergy-friendly environment, sustainable materials, renewable energy and overall green construction and operating principles. As with all 1 Hotel & Residences, the Cleveland property will donate one percent of its profits to local environmental organizations.
Part of a Green Neighborhood
The Flats East Bank is also dedicated to environmentally conscious design and construction and will be one of the first LEED-ND (Leadership in Energy & Environmental Design for Neighborhood Development) neighborhoods in the country, helping to position Cleveland at the forefront of the national green movement.
The 1 Hotel brand is the latest innovation from Starwood Capital Group chairman and CEO Barry Sternlicht. His previous trend-setting hospitality creations include the W Hotel chain, the first of its kind to combine a unique, hip and useful urban style with superior service and facilities for business travelers. As founder, chairman and CEO of Starwood Hotels for nearly 10 years, he also introduced the Westin Heavenly Bed and Heavenly Bath. This project will mark their first ever collaboration between Sternlicht and Wolstein.
“We are honored to have Barry and his high-caliber team partner with us,” Wolstein said. “Cleveland is getting the best in the business. The 1 project will add a new dimension to Cleveland’s transformation. 1 Hotel & Residences will usher in a new standard in hospitality and downtown living. It will be an exemplary ‘green’ project that will capture the movement toward environmental, sustainable living.”
Wolstein and his mother, Iris, have been working for more than a decade to carry out the Wolstein family vision for a vibrant Flats. Both believe this project will add a new dimension to Cleveland’s transformation.
To learn more about the 1 Hotel brand, visit www.1hotels.com. To learn more about Flats East Bank, visit www.flatseast.com.
