"The Cotton Club is not for sale," owner John Beatty, 70, told the New York Post. "I'm not going to negotiate a deal with Columbia because I don't want to leave."
"I have children and grandchildren who want to continue this history," Beatty said, adding that he thinks Columbia's plan is "racist."
"They don't want black people to have any reason to be on their campus," he said.
"We believe local African-American and Latino families, as well as companies, benefit greatly from the opportunities that Columbia already does and will increasingly provide," LaVerna Fountain, a Columbia spokeswoman, told the Post.
Celebrity Families of 2014 [PHOTOS]