A groundbreaking ceremony took place this week at the University of Maine for a $28 million project to renovate two of the oldest buildings on campus, reports the University of Maine.  

The hotel project is a joint venture of Radnor Property Group LLC, a real estate development company, and Harrison Street, an investment management firm.  

It is the first public-private partnership agreement for the University of Maine System. 

Coburn and Holmes halls, unoccupied for over a decade, will be developed into boutique hotels.  

A new 24,800-square-foot building next to Holmes Hall will also be constructed, creating a total of 95 hotel rooms and suites, and a bistro café.  

“This is an opportunity to invest in two of our distinct historical buildings that are so much a part of the heritage of Maine’s land grant university,” said President Ferrini-Mundy. “This public-private partnership for the adaptive reuse of Holmes and Coburn halls will provide high-quality hospitality as a resource for the university and the community.” 

Radnor Property Group specializes in the development of student housing, multifamily apartments, and mixed-use projects. It has collaborated with Bucknell University and King’s College.  

Read more about the project from The University of Maine.