U Square @ the Loop Breaks Ground Today

The Uptown Consortium was on-hand to help U Square @ the Loop developers break ground this morning on the $78 million development.

Uptown Consortium President Beth Robinson joined University of Cincinnati President Gregory Williams, Arn and Neil Bortz of Towne Properties, Jim Neyer of Al Neyer, Inc., Matt Bourgeois of CHCURC and others to officially break ground this morning. It is the largest local project besides The Banks to break ground since the recession began.

U Square @ the Loop is a mixed use development on 4.2 acres bordered by McMillian and Calhoun Streets and Ohio and Clifton Avenues near the UC campus. The project will be composed of 80,000 square feet of restaurant/retail space, 40,000 square feet of office space, 161 apartment residences, a 100-110 room hotel, a community green and two structured parking garages providing over 700 spaces.

Funding for the project comes from multiple sources including credits from PNC Bank, the lead lender of the project, and a $24 million allocation of New Market Tax Credits secured by Uptown Consortium and the Cincinnati Development Fund.

"U Square @ the Loop will be a welcome addition to Uptown, and we were honored to have an important role in making it happen," Robinson said.

To learn more about U Square @ the Loop, visit them online at www.usquareattheloop.com or visit their Facebook page at www.facebook.com/usquareloop.

(Below) U Square @ the Loop Groundbreaking, January 25, 2012

(Below) Janelle Lee and Jim Mathes from Uptown Consortium with Kelly Clements from PNC Bank. Photo credit: Paula Norton.