Construction on the second phase of the Clifton Heights mixed-use project has commenced in Cincinnati, Ohio. Once again, the regional development partners, Trinitas Ventures and Crawford Hoying are working together to build more student housing. But for this phase, the developers also intend to include a hotel as part of the mixed-use project. Development plans for both buildings were recently approved by the Cincinnati Planning Commission.
Phase I of the District at Clifton Heights involved building an eight-story, 351-bed student housing complex dubbed, “The Deacon”. Eventually, the student building was completed and opened in August 2019, with a $120 million price tag. Following this successful debut, the developers are now working on phase II, which is estimated at $250 million.
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Timeline and development plans for phase II of the Clifton Heights project
Construction on both buildings in phase II of the Clifton Heights project is expected to be completed by the summer of 2024. Columbus-based Crawford Hoying will be in charge of building the hotel, while Chicago-based Core Spaces will develop the residential tower. The entire mixed-use development is being built right across the street from the University of Cincinnati. Furthermore, its location is at a 5-acre site, formerly used by the old Deaconess Hospital, which was demolished back in 2018.
Phase II of Clifton Heights will be largely centered around the $143 million student housing development called the Hub. Starting with this 14-story residential tower, the second phase will provide 1,112-bed spaces across 380 units. In addition, the residential building also features a 3-level garage at its base, with a capacity of 169 parking spaces. This new student housing will be located on the North side of Straight Street on Block A.
Another key component for phase II of the Clifton Heights project is the 7-story Hotel Celare development. The new hotel was planned to include 171 rooms and 18,000 square feet of meeting space. On top of that, the hotel also includes a rooftop bar overlooking the entrance of the campus. Funding for public improvements and public parking will be raised through a tax increment financing (TIF) program. The Port of Greater Cincinnati Development Authority and the City of Cincinnati created this TIF incentive worth 40 million.
Expectations for the project
Upon completion, the Clifton Heights project is expected to accommodate about 3,000 residents and provide over 2,000 jobs locally. In addition, the development is projected to generate close to $11 million annually in tax revenue for Cincinnati and Hamilton County. There are also future plans to add traditional multifamily and seniors housing communities as well as commercial spaces in the area. Overall, the construction costs for all phases combined have been estimated at $640 million.