U Square @ The Loop groundbreaking
January 24, 2012
On January 25, ground breaks on U Square @ The Loop, a transformational $78 M multi-phase, mixed-use residential and commercial development on the 4.2 acres of vacant land bordering the University of Cincinnati 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.
Recently named by Forbes as one of the world’s most beautiful campuses, University of Cincinnati is also one of the nation’s top 25 public research universities. The development is located in the “edge” neighborhood that surrounds this world-class university and nearby major medical center including hospitals and a myriad of specialty medical centers.
Towne Properties and Al. Neyer, Inc. have joined development forces with Clifton Heights Urban Redevelopment Corporation (CHURC) to secure financing and engage the community with the project. University of Cincinnati trustees have approved an agreement to lease all of the U Square office space. Jeffrey R. Anderson Real Estate has been retained to lease the retail space which is slated to open on March 17, 2013.
The market-rate apartments will consist of studio, one- and two-bedroom units, and will be ready for the 2013/2014 academic year.
“U Square will be a welcome and exciting addition to the Uptown area and the University of Cincinnati community. Our students, faculty and staff eagerly await the opening of new retail and residential developments along this corridor,” said President Gregory H. Williams. “This project will do great things for the area that sits at our southwestern gateway.”