Memorial University just bought the Battery Hotel in St. John’s for $9.5 million.
The deal closed late this afternoon, according to a news release sent out by MUN.
The university has said that the hotel will be converted and used for off-campus office space, and a downtown presence in St. John's.
On top of the $9.5 million paid for the hotel itself, documents obtained by The Telegram indicate that the provincial government has authorized MUN to spend up to $16.2 million on repairs and alterations to the building.
“We are looking forward to having a more tangible and dynamic presence in downtown St. John’s,” said MUN President and Vice-Chancellor Gary Kachanoski.
“Not only does the property address some of our most pressing space needs, it will also allow some university units that engage with the public regularly to do so from a highly accessible location.”