Construction to Begin on University Station Project

CINCINNATI — Construction is slated to begin in July on Phase One of the new University Station multi-use site near Xavier University. A lead loan from U.S. Bank and an allocation from New Market Tax credits (NMTC) as well as funds from the City of Norwood Tax Increment Financing (TIF) are funding the $54 million project.

The complex will be located on a 20-acre site that previously held the BASF plant, Zumbiel Packaging and several other small businesses. XUPROP CO will continue owning the land, and will lease the site to Cincinnati-based developers Ackermann Group and Messer Construction Co. for 95 years. The Messer/Ackermann partnership will own the buildings and improvements constructed on the site.

The overall goal of the project is to provide a welcoming atmosphere of facilities and businesses for the local communities and university. “We’ve worked very closely with Xavier University as well as leaders from the cities of Norwood and Cincinnati and Evanston Community Council to fulfill our vision for a revitalized Montgomery corridor,” Ackermann said in a recent press release.

The site is designed to be pedestrian-friendly and contribute to the visual and economic improvement of the Norwood, Evanston, Avondale and Xavier University communities, according to Dobbs Ackermann, CEO of Ackermann Group. A neighborhood street grid will connect the site to the greater community and make it more accessible by foot for university students and community members alike.

Phase One of the project involves constructing a 315,000 sq. ft. site on 15 acres of land with 40,000 sq. ft. of office space, 35,000 sq. ft. of retail space, an 11,000 sq. ft. Xavier University bookstore and 900 parking spaces. The site will include a 225,000 sq. ft. apartment complex as well, with 480 beds and 180 units. This complex will be available to both Xavier students and the greater community.

No decisions have been made concerning leases for the office and retail spaces, but representatives from Ackermann and Messer are in communication with several potential tenants and will announce their decision within the next few weeks. Businesses such as restaurants and banks, which would benefit both the community and the university, are being considered, according to Liz Blume, director of the Community Building Institute at Xavier University and former planning director for the City of Cincinnati.

A talented group of professionals is collaborating on the project to keep plans on track. In addition to Ackermann Group and Messer Construction Co., the project’s partners include architect Costandi Studio LLC, residential architect Humphreys & Partners LP, civil engineer The Kleingers Group, landscape architect Martin Koepke Design, retail leasing Jeffrey R. Anderson Real Estate and commercial leasing CBRE.

Messer Construction Co. will be completing the construction of the project, which is slated to begin in mid July. “Messer is quickly becoming the Midwest’s builder of choice for higher education, with nearly $700 million of work in progress or nearly completed,” said Jessie Folmar, Public Relations Manager for Messer Construction Co.

This initial phase will create more than 350 jobs. The second phase of construction involves creating additional office and retail space on the remaining 300,000 sq. ft. of land and possibly building a hotel. The project’s anticipated end date is August 2014, at which point the businesses and facilities created during the first phase of construction will be open for business.