Graves Piano & Organ Co., 5798 Karl Road, will be sold with a new tenant and a new purpose in the coming months.
Alice Foeller, co-founder of Elevate Northland, said Cameron Mitchell, along with other investors, are purchasing the building and plan to lease it back to Elevate Northland for use as a destination hub where local business owners can lease space and generate ideas.
Foeller said a completion date had not been determined.
Foeller said the group had planned to hold fundraisers to come up with the down payment before Mitchell stepped in.
"He's excited about what we're creating," she said.
Paul Graves, owner of Graves Piano & Organ Co., confirmed the sale was occurring and said he expects to close on the deal in February. Graves said the business plans to stay open at least 90 days after the sale.
"We're going to continue to use the building for several months," he said.
Graves said the business would relocate, and he has looked at options in the Polaris area in north Columbus, as well as Dublin and Lewis Center.
"The (current) area just isn't what it used to be," he said.
Foeller said Elevate Northland received 501c3 status as a nonprofit last spring and the money raised will go toward other areas of the project such as the design and cost of contractors. She said the group has raised about $27,500.
Foeller said once the renovation is finished, it will give those looking to start a small business an easier time renting space.
"They can get a space for a smaller amount of money than they would on their own," she said.
Foeller said the organization is focusing on partnerships with the community and making the operation self-sustainable as well as making the area a multi-cultural tourist destination.
"It's coming from people in Northland," she said.
Foeller said the organization is excited about what lies ahead and appreciates the help they've received to make the space a reality.
"People are really trying to knock down barriers for us," she said.