Bedrock Announces Plans To Reimagine Tower City Center as a Destination Marketplace
July 15, 2021
The centrally-located downtown landmark will be home to an array of new retail and dining options, and feature headliner events, art installations, entertainment and other programming starting in Fall 2021
2021 Cleveland Chain Reaction participants to be awarded tenancy, bringing the next generation of local entrepreneurs to the Cleveland marketplace
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July 15, 2021 [CLEVELAND] – Bedrock today announces plans to reimagine Tower City Center as a retail marketplace. The iconic Public Square mixed-use development, most recently home to The Avenue Shops, is set to become a hub for shopping, pop-up retail experiences, dining, and entertainment, while also bringing an influx of local small- and minority-owned businesses to one of downtown Cleveland’s more highly-trafficked areas. Plans for the marketplace are underway as downtown Cleveland prepares to welcome scores of visitors over the next 12 months for major events like the Rock and Roll Hall of Fame Induction and the NBA’s 70th All Star weekend.
Centrally located and modeled after the great marketplaces from around the globe, Tower City Center will be a destination for the community to convene, dine and interact. With experience always at the forefront, an ongoing calendar of family friendly events, seasonal programming and pop-ups will provide an influx of opportunities and options for northeast Ohio consumers, including residents, professionals, and visitors.
“In addition to recruiting nationally recognized tenants, we are excited to be working with all of our local hometown tenants to help reimagine Tower City,” said Kofi Bonner, CEO of Bedrock. “We know that Clevelanders treasure their memories of Tower City and an infusion of local entrepreneurial spirit will shape this landmark’s next chapter as it plays host to a series of world-class events like the NBA Allstar Game and the Rock and Roll Hall of Fame Induction.”
In conjunction with the marketplace launch, Bedrock has solidified a partnership with Chain Reaction, a Cleveland-based economic development project, business bootcamp and competition that helps groom the next generation of local entrepreneurs while providing education and tools for success. Chain Reaction is produced by Cleveland Neighborhood Progress (CNP), the Greater Cleveland Partnership’s Council of Smaller Enterprises (COSE), JumpStart, and Cleveland Development Advisors (CDA). As a sponsor, Bedrock will provide mentorship to participants throughout the program’s duration, as well as prizes for the top 3 entrepreneurial finalists of their competition, combined for 18-months of brick & mortar tenancy at Tower City Center.
“The Cleveland Chain Reaction team is so grateful to have the incredible support of Bedrock as we embark on our fourth season,” said Megan Kim, Executive Director of COSE, the small business division of the Greater Cleveland Partnership. “Bedrock’s focus on community and economic development is perfectly aligned with our mission to help small businesses grow and to bring investment into the city of Cleveland and its neighborhoods.”
Situated between historic Euclid Avenue and Huron Avenue, Tower City Center features 366,000 square feet and 75 retail units with varying floorplans, sizes, and types. Available within three levels of Tower City Center, leasing is now underway by the Bedrock team for retail, entertainment and food and beverage operations. Tower City’s existing retailers are excited for these new tenants, who are slated to start opening for business in Fall 2021 ahead of a series of highly-anticipated events in the city center. These include but are not limited to the Rock and Roll Hall of Fame Inductions and the NBA All Star Weekend.
Bedrock will share announcements soon related to the new tenants of Tower City Center.
Tower City Center, or the Cleveland Union Terminal as it was first known, opened in 1930 as a central location for all railroad lines. Through the years and after several updates to the property, it became a mix of commercial office tenants, in 1990, with direct access to the Greater Cleveland Transit Authority. As an anchor of downtown Cleveland, Tower City is adjacent to landmarks such as Public Square, The Ritz Carlton, and the Terminal Tower. Bedrock, as part of the Rock Family of Companies, acquired Tower City Center and The Avenue Shops in 2016, adding to its growing Cleveland portfolio that currently features more than 4 million square feet of real estate and $1.6B of investment.
About Bedrock Cleveland
Bedrock is a full-service real estate firm specializing in innovative city-building strategies, reaching far beyond the boundaries of bricks and mortar. Since its founding in 2011, Bedrock and its affiliates have invested and committed more than $5.6 billion to acquiring and developing more than 100 properties in Detroit and Cleveland, including landmark developments at the Hudson’s Site, the Book Tower restoration, City Modern and the May Company Building. Bedrock’s portfolio totals more than 18 million square feet of office, retail and residential space within new construction and adaptive reuse projects.
Click here to view a complete timeline of Bedrock and the Rock Family of Companies’ engagement within the Detroit community.