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Hilton Garden Inn and Convention Center

After seven years of obstacles including a national recession with challenging financial consequences the City of Lawton was ready to implement Phase I of its visionary downtown redevelopment plan, the first project of which was the construction of a hotel and conference facility on land acquired by the City. Project developers determined there would not be sufficient return on equity to compel investors to finance the construction of a 134,000 square foot Hilton Garden Inn and Convention Center.

NMR funded $5 million in QLICI loans and Metafund (another CDE) provided $10 million in New Markets Tax Credit financing, which combined with funding from the Lawton Economic Development Authority, Comanche County Industrial Development Authority and commercial loans provided the capital necessary to complete the project. As an anchor for the redevelopment of downtown Lawton, this project catalyzed the development of over 200,000 square feet of retail space on the adjacent city-owned site.

Community Impact:

  • 98 construction jobs
  • 40 permanent jobs


 

New Markets Tax Credits
New Markets Redevelopment
Contact Us: 405.842.0100

5801 N. Broadway Ext, Suite 120, Oklahoma City, OK 73118 | Fax: 405.848.8248


 

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