Currently the Mill's car park is under water which is streaming across the canal toe path and into the Oxford Canal.
Castle Quay's Waterfront development is also under water, however work continues.
A spokesperson from Cherwell District Council, who own the site, said: “Work is progressing as usual on the development site at Castle Quay Waterfront. The future scheme has flood defences inbuilt into the plans.
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"The site is on a flood plain and as such the lower floor of the new car park has been designed as an overflow space to protect the rest of the site in a flood situation.”
The Met Office are forecasting more rain later tonight with less chance of rain over the weekend.
For up-to-date information visit the Mill's Facebook page.