Delaware State University has inked a deal with K.W. Lands, LLC. to lease the Sheraton Dover Hotel for 15 years. The university will use the hotel for additional residential space for students as the college begins its plan to renovate and upgrade the existing residential halls on campus.
The 15-year, $12 million lease, which DSU Board of Trustees members authorized university officials to sign at its Thursday meeting, comes with an option for the university to purchase the hotel any time after the second year.
Once finalized, the lease is expected to be in effect by July 27.
The hotel will be used to house students while residential halls are being modernized over time, said DSU spokesman Carlos Holmes in a press release that went out Thursday night.
The hotel may also be used for space as the university modernized other campus buildings in the future, as well as a possible site for its future early college high school, which has been approved by the Delaware Department of Education, Holmes said.
The current 135,500-square foot Sheraton Dover Hotel sits on a 6.5-acre property and contains 153 lodging rooms and 15 meeting/conference rooms.
For a complete story on the agreement between Delaware State University and the owners of the Sheraton Dover Hotel, pick up a copy of the June 19 issue of the Dover Post and check back at doverpost.com early next week.