CLIFTON, OH (FOX19) - A groundbreaking ceremony was held Wednesday for a large residential and commercial development near the University of Cincinnati campus.
'U Square @ the Loop' is a $78 million multi-phase mixed use development on 4.2 acres of vacant land bordered by McMillian and Calhoun Streets and Ohio and Clifton Avenues just outside the university campus. The project will be comprised of 80,000 square feet of restaurant/retail space, 40,000 square feet of office space, 161 apartment residences, a 100-110 room hotel, a community green and two structured parking garages providing over 700 spaces.
University of Cincinnati trustees have approved an agreement to lease all of the office space. Jeffrey R. Anderson Real Estate has been retained to lease the space, which is slated to open in March of 2013.
The apartments will consist of one and two bedroom units, and will be ready for the 2013-14 academic year.
"U Square will be a welcome and exciting addition to the Uptown area and the University of Cincinnati community," said Dr. Gregory Williams, UC President. "Our students, staff and faculty eagerly await the opening of the new retail and residential developments along this corridor."
A new hotel will also be a welcome addition, said Kyle Lewohl, a student at UC. "I think it's a great idea. There's not that many hotels around here. Parents come to visit their kids, and there's nowhere to really stay in Clifton."