Granville Inn Awarded Tax Credits For Historic Renovation
Denison University’s improvement efforts for the Granville Inn got a boost today with the approval of a $1.4 million tax credit under the Ohio Historic Preservation Tax Credit Program, which was the announced by the Ohio Development Services Agency. Denison University owns the Inn, which is operated by Columbus Hospitality. The Inn is temporarily closed for the extensive restoration and is scheduled to reopen in March of 2015.
Denison Vice President for Finance and Management Seth Patton noted that the college also has applied for federal tax credits to help offset the cost of renovation. The cost is estimated at $9 million, and includes construction and substantial upgrades to the 90-year-old village landmark. The combination of federal and state tax credits should offset between $2.6 and $2.9 million toward the cost of renovating the Inn.
“The Granville Inn is a significant historic building as well as an economic stimulus for the village,” said Patton. “It also has been the scene of countless important events and celebrations over the years. We are mindful of the Inn’s place in the memory of our community. The character of the Inn will be essentially unchanged, while the infrastructure will be substantially upgraded.”
As a nonprofit organization, the college itself cannot use the tax credits, however, it plans to partner with a financial institution that can utilize the credits.
Robertson Construction, a local firm, has been hired to oversee the renovation to the venerable property, with designs by George Acock Architects and Prater Engineering and other services by central Ohio companies.
Columbus Hospitality’s sales and catering team is on-site and continues to be available to book future events and share plans for the renovation and the architects’ renderings. The office remains open Monday through Friday from 9 a.m. to 5 p.m., by appointment, and staff can be reached at 740-587-3333 or by emailing firstname.lastname@example.org.