Sherwin-William HQ+R&D rises to $750 million

To the left of a holiday-themed Terminal Tower, the new Sherwin-Williams
headquarters will rise to 39 stories, including rooftop mechanicals. At 616
feet, it will be the fourth-tallest tower in downtown Cleveland before the
end of 2024. This rendering shows how the new skyscraper will look on
some nights. On other nights it will have decorative lighting in its vertical
crevasses and within its reverse-angled crown (Michael Collier/SHW).
CLICK IMAGES TO ENLARGE THEM

Sherwin-Williams (SHW) has announced that construction costs for its new headquarters in downtown Cleveland plus its research and development facility in suburban Brecksville have increased from at least $600 million to $750 million. But the cause, according to the global coatings giant, isn’t entirely what’s affecting all other construction projects — inflation and interest rates. Instead, it cited compliance with state, county and municipal regulations in hiring minority- and female-owned subcontractors and suppliers, plus local small businesses. Those regulations were triggered because of public-sector resources SHW tapped for these projects.

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