OXFORD — A developer has submitted an application to build a $125 million hotel, restaurant and retail project across from the Oxford Casino.

Casalinova Development Group applied earlier this summer for a credit-enhancement agreement to develop a 550-acre property along Route 26.

The application is an initial step. Negotiations between the town and developers on the size of the credit agreement are ongoing.

The Sun Journal reports that according to the application, the first phase would include the design and construction of a hotel, a restaurant, a day-care facility, a water park and an ice cream stand, as well as infrastructure improvements such as water, sewer, electric and telephone.

The project is not affiliated with the casino.

Town Manager Michael Chammings said the agreement is expected to be finalized in September.