{"id":1004114768,"date":"2015-03-03T11:48:24","date_gmt":"2015-03-03T19:48:24","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=329505"},"modified":"2021-05-14T19:01:48","modified_gmt":"2021-05-15T03:01:48","slug":"21c-to-convert-old-city-hall-in-indianapolis-into-55m-hotel-museum","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/21c-to-convert-old-city-hall-in-indianapolis-into-55m-hotel-museum\/","title":{"rendered":"21c to Convert Old City Hall in Indianapolis into $55M Hotel-Museum"},"content":{"rendered":"

by Adriana Pop, Associate Editor <\/em><\/p>\n

\"\"<\/a>21c Museum Hotels is planning to invest approximately $55 million into the revitalization of the Old City Hall in downtown Indianapolis, which will bring a 150-key hotel and a public contemporary art museum.<\/p>\n

According to the Indianapolis Business Journal<\/a><\/em>, the project hinges on the approval of an $11.3 million federal loan through the U.S. Department of Housing and Urban Development, which will require city council approval. 21c will secure approximately $29 million in project financing, which includes equity and debt. The company is also seeking a $9.1 million city-assisted investment to be repaid through annual minimum guaranteed payments. Other sources of financing include federal historic tax credits.<\/p>\n

Designed by New York-based architects Deborah Berke & Partners, the hotel will feature private rooftop terraces, as well as art-filled meeting and event spaces. Guests will have access to \u201ca unique chef-driven food and beverage concept showcasing local and regional farmers and producers,\u201d while the museum will feature rotating exhibitions with site-specific installations and cultural programming. Construction is expected to begin at the end of this year and finish by early 2018.<\/p>\n

Deborah Berke & Partners is also designing the distribution headquarters for engine manufacturer Cummins in downtown Indianapolis. The Louisville-based art-hotel chain has in fact commissioned the firm to design all of its hotels, which are located in Louisville, Cincinnati, Bentonville and Arkansas. A similar property is set to open this spring in Durham, N.C.<\/p>\n

\u201cWe are thrilled to be a part of this innovative plan to revitalize Old City Hall,\u201d Craig Greenberg, president of 21c Museum Hotels, said in a news release. \u201cLike the city of Indianapolis, we believe that the arts can both energize a city, and also catalyze further economic development. 21c welcomes the opportunity to support the city\u2019s arts and cultural organizations and to make Old City Hall a hub for the arts once again.\u201d<\/p>\n

Photo credits: 21c Museum Hotels<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

21c Museum Hotels is planning to invest approximately $55 million into the revitalization of the Old City Hall in downtown Indianapolis, which will bring a 150-key hotel and a public contemporary art museum.<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1590,21742],"tags":[],"class_list":["post-1004114768","post","type-post","status-publish","format-standard","hentry","category-indianapolis","category-latest"],"acf":[],"yoast_head":"\n21c to Convert Old City Hall in Indianapolis into $55M Hotel-Museum - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/21c-to-convert-old-city-hall-in-indianapolis-into-55m-hotel-museum\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"21c to Convert Old City Hall in Indianapolis into $55M Hotel-Museum\" \/>\n<meta property=\"og:description\" content=\"21c Museum Hotels is planning to invest approximately $55 million into the revitalization of the Old City Hall in downtown Indianapolis, which will bring a 150-key hotel and a public contemporary art museum.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/21c-to-convert-old-city-hall-in-indianapolis-into-55m-hotel-museum\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-03-03T19:48:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T03:01:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/21c-Museum-Hotel-Project-in-Indianapolis.png\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/21c-to-convert-old-city-hall-in-indianapolis-into-55m-hotel-museum\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/21c-to-convert-old-city-hall-in-indianapolis-into-55m-hotel-museum\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"21c to Convert Old City Hall in Indianapolis into $55M Hotel-Museum\",\"datePublished\":\"2015-03-03T19:48:24+00:00\",\"dateModified\":\"2021-05-15T03:01:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/21c-to-convert-old-city-hall-in-indianapolis-into-55m-hotel-museum\\\/\"},\"wordCount\":326,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/21c-to-convert-old-city-hall-in-indianapolis-into-55m-hotel-museum\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/02\\\/21c-Museum-Hotel-Project-in-Indianapolis.png\",\"articleSection\":[\"Indianapolis\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/21c-to-convert-old-city-hall-in-indianapolis-into-55m-hotel-museum\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/21c-to-convert-old-city-hall-in-indianapolis-into-55m-hotel-museum\\\/\",\"name\":\"21c to Convert Old City Hall in Indianapolis into $55M Hotel-Museum - 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