Stanbery Development is buying the former Spellman Administration building in West Chester with plans to build a hotel with retail space, writes Natalie Kostelni for the Philadelphia Business Journal.

The real-estate company based in Bexley, Ohio, is under agreement to pay the West Chester Area School District $4.25 million for the building at 829 Paoli Pike. The plans for the new hotel after the existing building is demolished are preliminary, and could still change during the approval process.

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“If there’s an opportunity to do multifamily, we will consider that, but the original plan is to do smaller retail and a hotel,” said Marc Hays of Stanbery.

Constructed in 1924, the Spellman building covers 37,623 square feet on 17 acres. The school district, which had bought the building last year, decided that the renovation costs would be too high. Instead, it bought a 42,000-square-foot office building at 782 Springdale Drive in the Whiteland Business Campus in Exton.

Read more about Stanbery’s plans in the Philadelphia Business Journal here.