21c Museum Hotel Oklahoma City has transformed the historic Fred Jones Manufacturing complex, containing more than 150,000 square feet, into a vibrant contemporary art museum, a 135-room boutique hotel, with restaurant, bar, meeting and event space, and office space for the ADG architectural firm. Originally a Ford assembly plant that sold and serviced Model Ts and Model As, the 4-story building is a cornerstone in Oklahoma City's historic character and bookends downtown development on the west. The iconic structure has become a vibrant gathering place for the community with the contemporary art and cultural center, open free to the public 24/7, and by attracting new visitors and business, the 21c Museum Hotel will serve as a catalyst for economic development in downtown Oklahoma City.
Even with substantial private equity investment and public sector support, the 21c project still faced a significant funding gap that prevented its start. However, with the help of NMR's $5 million of low interest rate QLICI loans, and another $5 million of QLICI loans from REI Development Corp. 21c was able to cover its funding gap and proceed with the $56 million project.