McDonald Investment Center
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Key Center is currently the 16th tallest building in Cleveland, Ohio, at 94 meters and 23 floors. When built, it was known as the Central National Bank building, and it was the 5th tallest building in Cleveland.
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[edit] History
In 1965, Central National Bank decided to build a new headquarters on the flank of the Erieview Plan (created by architect I.M. Pei. Central National Bank was one of Cleveland's largest banks of the 1960s. With Growth in banking, Central National Bank needed space for a new tower. In 1966, demolision of the Ellington Apartment which caught fire in 1960 began. In 1967 ground was broken for the 23-story red bricked edifice. It was designed by Charles Luckman and associates of NYC. In 1969 Central National Bank Tower opened for business.
In winter 1977-78, some bricks fell off the Central National Bank Building, with no fatalities. In 1979, engineers found a problem with the sealant used on the brickwork. The sealant was called Dow Chemical Sarabond. The Central National Bank sued Dow Chemical in 1980 and won. For two years, the brickwork was remodified.
In 1986, Society Bank bought out Central National Bank and its assests. In 1991, McDonald Investments bought the tower and in 1993, Society Savings Bought McDonald Investments. Society Bank became Key Bank in 1994.
McDonald Investment Center was acquired by IPC US Real Estate Investment Trust, a Toronto based firm in July 2002 for $45M.
In 2007, McDonald Center was renamed Key Center due to McDonald Securities being merged with Swiss Based UBS. In February 2007, new signage was placed on the street level. UBS will have a Cleveland Office in Key Center.
[edit] Location
It is on the SW corner of East 9th and Superior. These are 2 of the major roads in Cleveland. East 9th is considered to be the east boundary of central downtown, and Superior (US route 6) is a major east-west artery route.
[edit] Current occupants
- IPC US Real Estate Investment Trust, the owner, a Toronto based firm [1].
- McDonald Financial Group part of UBS.
- Consulate of Sweden
[edit] Firms involved in construction
- Tishman Speyer
- Kelley Steel Erectors
- Cantor Seinuk Group Inc. The firm building the Freedom Tower on the Site of the World Trade Center.
- John W. Blatt Elevator Consulting Inc.
[edit] See also
[edit] References
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