|By Mike Pramik, The Columbus Dispatch,
OhioMcClatchy-Tribune Regional News
February 9, 2009 - -Ohio State University's community development arm has reached a deal to buy Holiday Inn on the Lane and plans to close the campus-area hotel March 31.
Harper Hotels Inc. will receive $19 million from Campus Partners for the 243-room hotel, which the university wants to use as student housing. The hotel deal is set to close this month, said Doug Aschenbach, interim president of the development group.
The Holiday Inn is a Lane Avenue landmark that for decades provided lodging for families of OSU students, Buckeye fans and people doing business with the university. It has about 10,000 square feet of meeting space.
But with several dorms in OSU's south campus set to undergo repairs in the coming years, the university sought out the Holiday Inn as dorm space.
Campus Partners plans to spend $4 million to $6 million to convert the hotel into a 480-bed dorm. Aschenbach said it's possible the Holiday Inn will be available as a dorm by fall quarter.
The Holiday Inn also is widely known as the home of Hineygate, an OSU football-related party featuring live music. Aschenbach said Hineygate's fate is uncertain.
"Our first issue there is determining when students will occupy the building," he said. "That will allow us to evaluate options that may be available on continuing to host Hineygate."
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