Oxford Commons and Miami Commons are under new ownership and expecting renovations.
Capstone Properties closed the deal on close to 90 percent of the condominium units in each area on March 16, said Development Manager Christopher Mouron, who was responsible for finding the properties and closing the deal in Oxford.
Capstone Properties is no stranger to Oxford. Capstone built and owned Hawks Landing in 1994.
“Oxford was always good to us and we’ve always been looking for an opportunity to get back,” Christopher Mouron said.
Capstone plans to do a full renovation on Oxford and Miami Commons including new kitchens, bathrooms, flooring, windows and amenities, President of Capstone Properties Mike Mouron said.
“I was drawn to the charming communities, courtyards and mature landscapes,” Christopher Mouron said. “The properties had lots of opportunities, they just lacked direction.”
Capstone purchased one-bedroom, two-bedroom and four-bedroom condominiums. Christopher Mouron said this variety in housing was another attraction.
“With juniors and seniors being the only group that’s allowed to live off campus, we have found across the country the older students get, the fewer roommates they want,” Christopher Mouron said.
All of the Capstone Properties, Mike Mouron said, are also pet-friendly. There will be an additional pet deposit and a small monthly fee for students to keep pets in these properties.
Capstone plans to wire all of the condominiums for cable and Internet, which are currently not provided with students’ rent. Capstone plans to cover the water and sewer expense in addition to cable and Internet.
Sophomore Mike Ballanger is excited for this change.
“Looking for places to live after the dorms is hard,” he said. “But this definitely sounds like something worth checking out, especially if I can bring a pet.”
Condominium prices start below $400 a bed per month for four-person condominiums, and go up to $699 a bed per month for one-person units.
Capstone Properties’ management is located in Birmingham Ala. They have been in the business for 20 years and currently manage over 5,000 bedrooms of student housing on 80 college campuses including Bowling Green State University, Kent State University and Xavier University.
“We’re very familiar with the buckeye state,” Mike Mouron said.
According to Christopher Mouron, Capstone plans to have renovations done in August. Students can already view model condominiums which include all of the planned renovations and represent the new furniture Capstone plans to bring in to all the units.