Proposed $125 million UC housing project could add 450 student beds
Proposed $125 million UC housing project could add 450 student beds
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The University of Cincinnati is planning a new multimillion-dollar student housing project in Uptown, the latest move to bolster its inventory of beds amid record-high enrollment.
The land, currently vacant, sits directly adjacent to the west of Bellevue Gardens, an apartment community owned and operated by the university.
UC last week issued a request for proposals for an architect/engineer to evaluate the project’s potential. The response deadline is April 20.
The total cost has yet to be determined but UC’s funding amount is listed at roughly $125 million, depending on final scope. The development could add roughly 450 beds and would include 200 parking spaces, student communal space and other amenities.
The redevelopment is the latest effort to bolster student housing inventory in the neighborhood amid the university’s enrollment growth. UC welcomed a record-high 47,914 students this fall and is hoping to hit the 60,000 mark by 2030.
The university earlier this month approved five block-lease agreements at private, neighborhood off-campus apartment complexes that provide an additional 728 undergraduate beds and 114 graduate beds. The block leases come with a multi-year price tag of $36.3 million. Overall, the university has 990 such off-campus beds secured. And Cincinnati City Council recently approved incentives for a planned $47 million, 103-unit, 365-bed student apartment complex with 263 parking spaces at 115-125 W. McMillan St. and 124-142 Lyon St. The Port of Greater Cincinnati Development Authority is also supporting the project, an effort by developer Hallmark Campus Communities.
UC also issued an RFP in December for a $100 million mixed-use project south of campus and to the east of the U-Square development. It would contain a 10,000-square-foot, street-level space for the university and a 125-bed graduate/apartment-style university housing building.
The university said the project will be advanced in two phases in terms of professional services: The first would evaluate site capacity, utilities and infrastructure needs in order to establish a cost estimate.
https://www.bizjournals.com/cincinnati/news/2023/03/29/uc-rfp-uptown-redevelopment-student-housing.html?cx_testId=40&cx_testVariant=cx_6&cx_artPos=0
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