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Now browsing: Hometown News > Business & Finance > Volusia County

DeLand business news
Rating: 3.31 / 5 (29 votes)  
Posted: 2012 Nov 23 - 06:01

 

 

Stetson buys motel for student housing

 

 

Stetson University has purchased the University Inn from Hina and Sara Patel. The purchase price was not disclosed.

"Purchasing and renovating the University Inn buys us time to do better planning for a future residence hall," said Bob Huth, Stetson's chief financial officer.

At 644 N. Woodland Blvd. in DeLand, the University Inn is across the street from Stetson's campus and will serve the university's needs as it expects to grow to 3,000 undergraduate students by 2016.

Maximum capacity planned at the renovated facility is 112 to 115 students. Plans include having a campus safety officer on the property as well as a permanent resident advisor.

Greene Real Estate and a hair salon, tenants at the inn, have been notified as have all employees that the property will be converted to student housing. The inn has 15 full- and part-time employees and Mr. and Mrs. Patel are committed to helping them secure employment. "Sarah and I will get them placed," Hina Patel said.

The property will operate as the University Inn under the present owners until June 30. Stetson will renovate the property and have it ready for student occupancy in August 2013 in time for the start of the 2013-14 academic year.

 

 

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