According to GlobeSt.com, The University of Cincinnati, through its Clifton Heights Community Urban Redevelopment Corp., is funding a $68 million mixed-use development right near campus in Cincinnati, Ohio. The site is scheduled to open in the fall of 2012 and will have 87,000 square feet of retail, 150 apartments, a hotel and about 700 parking spaces.
There are already eight letters of intent out for the retail side regarding leases, and the nearby opening of a Kroger grocery store in 2011 is expected to help with apartment tenant interest. The location provides great nearby spending ability with the university, a few hospitals and a new 127-unit residential project across the street. The initial reaction for a hotel occupant is something limited-service or extended-stay like a Hilton product.