A former department store on Court Street will soon be brought back to life to temporarily house several university departments.
The Woolworth building, located at 31 S. Court St., has been leased to OU for five years and will be used for offices until renovations of other campus buildings are completed.
The lease will cost about $500,000 a year for office space on the lower floors and 10 rental spaces located on the second floor.
“From the university’s perspective, negotiations went well,” said Donna Goss,
OU’s director for real-estate management.
Carolyn Gilmore, the property owner, could not be reached for a comment.
The building closed about 17 years ago. Since then, the lower and ground levels have remained vacant but ten second-floor apartments were added, Goss said.
“The infrastructure needs of Lindley Hall necessitated vacating the building,” Goss said. “In order to best accommodate the tenants of the building, the university explored options on and off campus and the location of the building presented the best option for space needs.”
The lower and first floors of the former Woolworth building are being renovated and will be occupied by programs and offices from Lindley Hall. Then the 95-year-old building will see renovations of its own, Goss said.
The second floor Skyview apartments will be managed by Residential Housing.
The F.W. Woolworth Company, opened in 1879, had some of the first American five-and-dime stores, which sold items at fixed prices, usually five or ten cents.
The chain developed into larger discount stores and, by its 100th anniversary, was the No. 1 department store in the world.
The chain later lost popularity to its many competitors, including Wal-Mart and Target, and Woolworth department stores closed in 1997. Four years later, the company took the name of its successful shoe-retail store and became Foot Locker, Inc.
“The university believes this was not only a practical and cost-effective solution to the current space demands, but also a unique opportunity to revitalize a building in the heart of uptown,” Goss said. “We are hopeful that this initiative will promote economic activity for local business owners and encourage new business development in the area.”
cw105510@ohio.edu
