The University of Maine has formed a partnership that will allow it to renovate two historic buildings into a boutique hotel on its Orono campus.
The university secured funding through Harrison Street, a Chicago-based investment firm, and Radnor Property Group LLC to turn Coburn and Holmes Halls into a campus hotel, according to Margaret Nagle, a spokesperson for the University of Maine.
The project to turn the former residence halls, which stand just yards apart from each other, is estimated to cost about $17.2 million, with the university shouldering responsibility for up to $2 million in construction costs.
Coburn and Holmes Halls were constructed in 1888, but have not been used by the university in 15 years. The renovation would turn the halls into a 95-room hotel with a bistro cafe. The project will break ground this fall, and is expected to be completed in 2024.
Once the hotel is functional, the property will be operated by Portland-based Olympia Hotel Management.
Holmes Hall was built as an agricultural experiment station, while Coburn Hall originally contained a natural history museum, library, classrooms and administrative offices. Both were designed with a Romanesque Revival structure by architect Frank E. Kidder, who was known for his 1885 publication of “The Architects’ and Builders’ Pocket-book.”