The University of Cincinnati desired a new campus “center” that
would connect the East and West campuses and serve as a place for
students, administrators, educators, and others to meet, communicate
and interact. Higgins Development Partners was engaged by the
University to formulate a financial model for the project and develop
this new “center”. Higgins proposed to finance the project with taxexempt
bonds – using the tax-exempt status of the University – and
employ a unique master lease arrangement, which would dramatically
reduce the University’s borrowing costs. Ultimately, the University
issued bonds to cover the entire project cost under the originally
proposed financing structure, but retained ownership and engaged
Higgins as development manager.
The project consists of a 202-room hotel and adjacent 45,000 square
foot conference center operated by Marriott Conference Centers;
two office buildings; and a 500-car underground parking garage. The
project features heavy landscaping, a connecting promenade, terraces,
and a University Commons park for students to congregate and hold
organized functions.