University Circle Welcomes New Skyscraper: Stokes East
University Circle continues its rapid transformation with the upcoming addition of the 24-story East Stokes building. This new skyscraper is poised to further boost Cleveland’s already hot rental market, offering more upscale housing options and contributing to the vision of a vibrant, walkable urban center. Locals can look forward to expanded retail and amenities in one of the city’s most dynamic neighborhoods.
A Growing Urban Hub: Circle Square’s Vision
The East Stokes building is the latest component of the ambitious Circle Square project, a significant development aiming to revitalize the area bounded by Chester Avenue, Euclid Avenue, Stokes Boulevard, and E. 105th Street. This initiative began with the 24-story Artisan building opening in 2023, followed by the nine-story Library Lofts in 2024. Ultimately, Circle Square plans to house approximately 1,000 apartments, creating a bustling, integrated community.
Introducing Stokes East: Features and Timeline
The newest addition, the glass-walled Stokes East building, is slated to break ground as early as spring 2026, or potentially 2027, depending on financing. This impressive structure will occupy about half a block on Chester Avenue and will feature 281 apartments. Unit sizes will range from approximately 600 square feet to a spacious 2,400 square feet, offering slightly larger options than its neighboring Artisan building. Beyond residential spaces, the ground floor will boast 17,000 square feet of retail space and a 300-space parking garage to serve residents and visitors.
Rental Market Dynamics in University Circle
While exact pricing for Stokes East is pending, rents are projected to be around $3.50 to $4 per square foot, aligning with the luxury pricing of the nearby One University Circle and slightly above other newer buildings like Innova and Skyline on Stokes. For instance, a 500-square-foot, one-bedroom apartment could command approximately $2,000 per month. The Artisan building, a testament to the area’s demand, currently enjoys a high 90% occupancy rate, indicating a robust market for these upscale offerings.
Amenities and the Developer’s Passion
The Stokes East building is designed to offer a premium living experience with an impressive array of amenities. Residents can look forward to a luxurious rooftop space complete with a hot tub, cold plunge pool, swimming pool, patios, grills, and firepits—perfect for relaxation and socializing. Given the success of the Artisan building, which includes a golf simulator, dog wash, coworking space, and entertainment rooms, similar high-end features are expected in Stokes East.
Developer Steve Rubin of Midwest Development Partners describes Circle Square as a “passion project.” His vision for the retail component of Stokes East emphasizes convenience and local flavor, including “a combination of food and amenity retail” such as a bank branch, a dry cleaner, and at least one bistro-type restaurant, along with ethnic food options. With a Meijer grocery store already nearby, earlier plans for an on-site grocery have been scuttled, and developers are now seeking a new anchor tenant for the retail space. The deliberate choice to make Stokes East units slightly larger aims to complement, rather than compete with, the existing offerings at the Artisan and Library Lofts, fostering a diverse residential portfolio within the development.
Cleveland’s Hot Rental Market: University Circle Leads
Cleveland’s rental market is currently thriving, positioning itself as the 40th hottest in the U.S. as of April 2025, according to Rent Cafe. The city boasts an average occupancy rate of 93.1%, a slight increase from the previous year. The average rent across Cleveland stands at $1,543 per month, reflecting a 2.37% year-over-year increase.
Within Cleveland, University Circle has emerged as the most expensive urban rental housing market, with an average monthly rent of $2,189. This contrasts with Tremont at $2,010 per month and the city-wide average. Comparing Ohio’s major cities, Cleveland’s average rent of $1,543 surpasses Columbus ($1,340) and Cincinnati ($1,452), highlighting its premium status. Chuck Schulman, President of Carlyle Management, notes that this robust market, particularly in University Circle, is “keeping people in the area,” attracting professionals from the university and hospitals, and even drawing residents from inner-ring suburbs who seek new, convenient urban living options.
| Location | Average Monthly Rent (Approx.) |
|---|---|
| University Circle | $2,189 |
| Tremont | $2,010 |
| Cleveland (Overall) | $1,543 |
| Cincinnati | $1,452 |
| Columbus | $1,340 |
Frequently Asked Questions About Circle Square
- When is Stokes East expected to break ground?
Construction for the Stokes East building could begin as early as spring 2026 or 2027, contingent on securing financing. - What type of retail will be available in Stokes East?
The ground floor will feature 17,000 square feet of retail space, likely including amenity retail like a bank or dry cleaner, and various food options such as a bistro-type restaurant and ethnic foods. A grocery store is not planned due to a nearby Meijer. - How do rents in University Circle compare to other Cleveland neighborhoods?
University Circle is currently Cleveland’s priciest rental market, with an average rent of $2,189 per month, compared to Tremont’s $2,010 and the overall Cleveland average of $1,543. - What is the overarching vision for the Circle Square project?
The developer’s vision is to create a dynamic, walkable urban center on upper Chester Avenue, providing increased residential density, diverse housing options, retail, and transit-oriented lifestyles.
With the continued development of Circle Square and the upcoming Stokes East building, University Circle is solidifying its role as a premier destination for living, working, and leisure in Cleveland, offering residents a connected, amenity-rich urban experience.
University Circle Welcomes Stokes East Skyscraper
