Media > Press Release
Campus Apartments Purchases Columbus' Seneca Hotel, Will Invest $12 Million to Renovate Into Apartments
Columbus, OH, October 15, 2004
Campus Apartments Inc., a Philadelphia-based real estate company that develops, manages, and owns luxury apartments, announced today the purchase of the historic Seneca Hotel in Columbus, OH. The property, built in 1917 and listed on the National Register of Historic Places, has been vacant and in decay for 17 years.
Campus Apartments plans to invest $12 million to maintain the building's historic look and character while redeveloping it into residential apartments and retail space. Designed by nationally renowned Ohio architect Frank Packard in a Jacobean style, popular for hotels and school buildings during the late 19th and 20th centuries, the 10-story 136,500 sq. ft. structure was once one of the finest hotels in Columbus. In 1996, it was nearly demolished to make room for a parking lot.
City leaders and historic preservationists, who have long hoped for restoration of the building, have met Campus Apartments' proposed plans for the Seneca Hotel with enthusiasm.
"The Seneca Hotel is one of downtown's greatest architectural treasures, a historic gem that should be fully restored," said Columbus Mayor Michael B. Coleman. "Located near four downtown colleges and universities, I expect this to be one of the most sought after addresses for the 30,000 students who come downtown to earn their degrees, as well as the young professionals who are now looking to move downtown. We are proud to work with a new partner, David Adelman and Campus Apartments, because they understand residential development and are ready to invest in a creative new downtown neighborhood."
Located at the southeast corner of East Broad Street and Grant Avenue, the Seneca Hotel is situated in the heart of downtown Columbus in the city's Discovery District on "Campus Row." It is an area with thousands of college students but few retail, dining or residential options. The area is home to Capital University Law School, Franklin University, Columbus College of Art and Design (CCAD) and Columbus State Community College, as well as a neighbor of the Grant Medical Center.
Campus Apartments has been successfully developing and managing market rate apartments and university housing for over 40 years. The company has developed a reputation for its ability to manage the renovation, restoration and rehabilitation of historic properties.
While the Seneca Hotel is currently in disrepair, Campus Apartments sees tremendous potential for the historic structure, thanks to the City of Columbus' downtown revitalization plan and the support of the Columbus Downtown Development Corporation and Capitol South Community Urban Redevelopment Corporation.
"Columbus is a wonderful city that has in place an energetic and dedicated downtown renewal effort that has created a need for new housing," said David Adelman President and CEO of Campus Apartments. "This will be an extensive redevelopment project and an exciting opportunity to preserve an important Columbus landmark while meeting the growing demand for downtown housing."
Today, Friday, October 15th at 3:00 p.m. Mayor Michael Coleman will join David Adelman, President and CEO of Campus Apartments; Lawrence L. Fisher, Interim Executive Director of Columbus Downtown Development Corporation; and business, education and community leaders at the Seneca Hotel to commemorate the redevelopment announcement. There will be opportunities for interviews and photos.
To arrange interviews with David Adelman or for more information about Campus Apartments and its purchase of Columbus' historic Seneca Hotel, please contact Katie Miller at 610-642-8253 or e-mail katie@gregoryfca.com.
About Campus Apartments, Inc.
Based in Philadelphia, PA, Campus Apartments (www.campusapts.com) has been successfully developing and managing apartments and university housing for over 40 years and has been successful in growing its private holdings, which now total more than 220 properties. Campus Apartments has developed a reputation for its ability to manage the renovation, restoration and rehabilitation of historic and urban, scattered site properties in neighborhoods surrounding universities and other academic institutions.