[3] Part of the need for the tower was due to a resurgence of interest in downtown Cleveland, spearheaded by a 77% increase of new housing units and 95% occupancy rate from 2000 to 2015.[4][speculation?]

[5] The chosen site, on the lot behind 200 Public Square on East Roadway and Euclid, had been the location of an earlier proposed apartment tower.

For various reasons, mostly due to financing and design flaws, an eight-story parking garage was erected but the tower never rose.

[citation needed] The Beacon is the first new residential high rise erected in Cleveland's central business district since 1974.

[6] The Beacon features a façade interlocked with colored interchanging metal panels that reflects the sun.