Hamilton housing: 5 things to know about downtown’s hot apartment market

Here is one of the student apartments at the Third + Dayton complex downtown. MIKE RUTLEDGE/STAFF

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Here is one of the student apartments at the Third + Dayton complex downtown. MIKE RUTLEDGE/STAFF

More people are living in Hamilton’s downtown area and its Main Street corridor, with more housing planned in the next year or two next to Miami University’s Hamilton campus.

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Here’s a look at some recent advancements with such housing developments, in areas that also are seeing an increase in dining and entertainment options:

Marcum Apartments

All 102 luxury units of the Marcum Apartments have been rented. The Marcum is the same project, across from the Courtyard by Marriott downtown, that houses the new Casual Pint bar and Tano Bistro on its street level, among other businesses.

Davis Apartments

Eleven of the 12 newly renovated “Davis Apartments,” located above the Village Parlor on Main Street, have been leased. The Village Parlor is at 304 Main St. Jim Cohen of Blue Ash-based CMC Properties said the quick occupancy of the Davis Apartments and the Marcum Apartments, which he developed, showed there was “pent-up demand” for upscale apartments in Hamilton. That’s why he’s also considering creating 50-60 apartments in the former Hamilton municipal building at 20 High St.

Apartments planned next to Miami Hamilton

Immediately next to Miami’s Hamilton campus, a developer is planning 100 apartments to start, along with campus-type businesses, such as coffee shops.

“It’s going to feel like it’s on campus, but we’re actually directly adjacent to campus,” said Tom Drauschak, representing the project.

Cathy Bishop-Clark, dean of Miami University’s regional campuses, said no Miami employees will work at the privately owned development. But she said she is excited about the quality-of-life possibilities the project can bring to the campus.

Third + Dayton redevelopment

In another Miami-related project, 33 Asian students recently moved in to the seventh floor of the former Ohio Casualty complex, which now has been renamed Third + Dayton, for a nearby intersection. For Miami’s next semester, that number is expected to grow to 64.

Also Miami-related are the 40-50 people with Miami’s “Work +” program and pro football hall-of-famer Jim Brown’s Amer-I-Can program, who will be living rent-free while working 24 hours a week and attending classes at Miami Regionals.

Occupancy rates

Meanwhile, here are current first-floor occupancy rates for the downtown area and Main Street, according to the city:

• Downtown occupancy: about 72 percent, or more than 150,000 square feet of more than 207,000

• Main Street: about 73 percent, or more than 99,000 square feet out of more than 136,000 square feet.

Historical data were not immediately available.

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