Studio West 117 Fieldhouse, the mixed-used project catering to the LGBTQ+ community, owes nearly $94,000 in certified delinquent property taxes on the sprawling space that includes a restaurant, rooftop bar and gymnasium, according to Cuyahoga County property records. The developers announced this week they are closing the space at the end of the month.
Opened in October 2022 by Daniel Budish and Betsy Figgie, the project anchored an ambitious plan to redevelop properties near the border of Lakewood and Cleveland. As part of a planned second phase, they were redeveloping the nearby Phantasy Theater, a well-known music venue in the 1980s. The Phantasy Theater and a related property currently face about $74,000 in certified delinquent property taxes, county records show. The developers originally planned to open the Phantasy Theater sometime in 2025.
During the last three years, the developers have faced numerous financial problems, including delinquent taxes and defaulting on more than $9 million in loans. The developers told Signal Cleveland in 2024 that the problems were the result of economic factors tied to the pandemic, including rising construction costs and inflation.
“Since the very beginning we have faced large headwinds, from the legislative attacks on the LGBTQ+ community in Ohio, to Covid and its effect on the bar and restaurant industry, to the macroeconomic construction and real estate environment from rising construction costs, supply chain delays and straight into interest rate increases,” Budish said in a statement at the time.
In March 2024, a review of properties tied to the project showed the developers were past due on about $222,000 in property taxes. Then, in June 2024, the developers cleared some outstanding property tax bills related to the project’s 2023 tax bill.
Co-developer Budish did not return a text message seeking comment about the latest past due taxes and his plans for the Phantasy Theater.
In an unsigned public statement posted on social media this week, the developers said Studio West 117 Fieldhouse will close Dec. 28.
“While these circumstances are difficult, they do not diminish the impact this space has had or the ongoing need for places where LGBTQ+ people and allies can gather, create, and belong,” the statement reads in part. “Over the past three years, we have been honored to serve this incredible community. … Since opening, the Fieldhouse has welcomed thousands of people through its restaurant, events, programs, and gymnasium. Together, we hosted more than 70 community fairs, supported over 40 partner organizations, and created space for corporate gatherings, networking events, community fundraisers, sports leagues, free senior wellness programs, and countless LGBTQ+ arts and entertainment experiences.”
