In early August, the four-story construction project overlooking Uptown Park next to Corner Bar is scheduled to open for Miami University students to move into their new apartments and for locals to dine at the business on its ground floor.
Construction officially began in November 2022, and leases for the 2023-24 school year have already filled up. However, some tenants are still searching for roommates, and several three-bedroom units are still available for the 2024-25 school year. The apartments are managed under CKC Rental Agency.
In an email to The Miami Student, Pamela Lindley, the chief operating officer of Hotel Development Services, LLC (HDS), shared what the company knows so far about the building’s business occupancy. HDS owns the property and CKC Rental Agency therefore partners with it.
“The owners of the building are working with a restaurant group currently,” Lindley wrote. “The last I heard, they were close to executing the lease agreement. From what I understand, it will be some type of chicken restaurant which will serve a market that is not currently in Oxford.”
Sam Perry, the City of Oxford’s community development director, said the city cannot confirm the business until its owner finalizes its permit, which the city council will regulate and review according to existing policies.
Amy, the manager of Yum Yum right next to the construction who requested to be identified by first name only, sees the building as a net positive for her business’ future. However, the construction has had some negative impacts, like customer complaints about the road closure and inaccessible parking outside the restaurant.
“It’s been tough to do some business and it encroaches on Yum Yum to some extent,” Amy said. “Construction has drummed up business in the past though. It will be a good idea for foot traffic.”
Lindley wrote that CKC Rentals initiated the project because of its great proximity to High Street.
“Location, location, location,” Lindley wrote. “Your marketing professors do not lie when they tell you that this is sometimes the most important factor of real estate. The student housing is priced to match the market for this area.”
Jessica Greene, Oxford’s assistant city manager, agrees and predicted how the project’s revenue will pan out.
Enjoy what you're reading?
Signup for our newsletter
“Anytime there’s diverse supply available it impacts what people are willing to pay,” Greene said. “Especially if something’s new and clean and has all amenities, depending on how much it is, that influences the market.”
According to Lindley, CKC Rentals purchased the site in 2022 from the split-lot of the Sigma Chi Foundation’s founding building nearby. The foundation was razed due to poor conditions.
Greene said this method is not an unusual trend with Oxford’s construction.
“There’s been major development over the past 20 years, renovating, demolishing or rebuilding past construction,” Greene said.
Future construction projects on the horizon in Oxford include redeveloping the vacant Mesler Auto Body.