HARTFORD, Conn. (AP) The University of Connecticut has entered into negotiations to buy a hotel located on campus for about $9.1 million and turn it into a dormitory.

The school exercised its right of first refusal after another company approached the owners of the Nathan Hale Inn and offered just under $8.4 for the building, which sits atop university property.

The school says it would need to spend the additional money to bring the building up to code and buy new furniture.

The school currently leases 50 rooms in the 98-room hotel for student housing, at a cost of about $1.1 million per school year.

The school says demand for on-campus housing has outpaced capacity for the last 13 years.

The school's Board of Trustees is scheduled to authorize the purchase on Wednesday.