Memorial signs agreement to purchase Battery Hotel
Memorial University and the Battery Hotel have entered into a purchase and sale agreement for the university's acquisition of the Battery Hotel. Closing will occur in about 60 days pending a detailed inspection of the property, a satisfactory closing arrangement and approval from the government for Memorial University to acquire the property.
Facilities and buildings on Memorial's St. John's campus are fully occupied and the university currently leases significant space off-campus.
The space at the Battery would allow the university to consolidate a number of units that would be appropriately housed closer to the city's downtown core, including units like the Harris Centre and Faculty of Business Administration's Gardiner Centre that are key to Memorial's engagement activities.
It would also create a new space for student housing, particularly for graduate students.
The building and operations will be cost-neutral to the university. Funding will be provided from redirecting lease expenditures for off-campus space and revenue generated from university activities at the facility.
As some university units move into new space at the Battery, space will be freed up for units that would more appropriately be housed on the St. John's campus which are currently located off-campus.
Dr. Gary Kachanoski, Memorial's president and vice-chancellor, said the university has always been a good neighbour to those living in proximity to all of its campuses, and that won't change in its new location.
"Memorial is committed to integrating into its surroundings and values the integrity of the communities and neighborhoods in which we live and work," said Dr. Kachanoski.
"As a former professor at Memorial in the mid-1970s, I'm particularly proud to see the Battery's landmark property contribute significantly to making Memorial University's St. John's campus one of the finest in all of Canada," said Rick Butler, Battery Hotel owner.