Coworking spaces are a growing trend in business hubs across the country. Now the Health-Tech Corridor (HTC) will soon be home to an 18,000 square-foot coworking space in the Victory Center on Euclid Avenue. Scheduled to open this summer, the space will be owned and operated by Pittsburgh-based The Beauty Shoppe, an established flexible office space operator.
“This is exactly the project we’ve been looking for for quite a while,” says HTC director Jeff Epstein. “We hired JumpStart to do a market assessment and we had heard about coworking spaces popping up around the country. The Beauty Shoppe owners are big believers in philosophy of coworking. Everybody should have access – from small businesses and entrepreneurs to work-at-home businesses.”
Memberships will start at $150 a month, which will include a shared desk, 24/7 access to the offices, conference rooms, internet, coffee and free parking. Different package configurations are available. All types of businesses will be welcome.
The Victory Center provides ideal workspace for people looking for places other than a coffee shop to do their work and meetings. “The thought was, this is a great location for business startups at Case, people from the suburbs who want to be around other people,” explains Epstein. “The street-front access brings a lot of energy to the area and the location is minutes from Case, the hospitals, and downtown with ample parking.”
The coworking setup also offers options to companies just starting out. “It adds life and vibrancy and a tremendous amount to small businesses who don’t know what the future will hold in three to six months,” Epstein says. “The cost is affordable without committing to a lease.”
The space will also serve as a venue for programming, classes and events.
The project is a collaboration between BioEnterprise, the City of Cleveland, the Cleveland Foundation, the HTC, MidTown Cleveland and JumpStart. Additional financing for the project will come from an investment by The Beauty Shoppe, a loan from ECDI, reduced rent from the Victory Center’s owners and a grant from the Cleveland Foundation. Students from The Cleveland Institute of Art helped design the space through an additional Cleveland Foundation grant.