The old Granny’s Closet restaurant building could soon be owned by Northern Arizona University. The property is currently owned by Northern Arizona Real Estate Holdings, which is a nonprofit corporation with the Northern Arizona University Foundation as a sole member. NAU has asked the Arizona Board of Regents for approval to purchase four parcels of land, which includes the Granny’s Closet building and the parking lot. The other two parcels of land have homes with three month-to-month leases on them currently. According to documents, the University would buy the Granny’s property for just over four-point-nine million dollars, paid over 20 years at a five-percent interest rate. The Board of Regents approved the action at their meeting in Phoenix Wednesday. NAU has not made any decision, or put together plans for any usage of the property. The restaurant closed its doors in November of 2016.