New York based architect Deborah Berke designed the $57 million hotel with assistance from Pittsburgh based architecture firm, Perfido Weiskopf Wagstaff + Goettel. 3CDC assisted 21c Museum Hotel secure financing. The boutique hotel was completed in November of 2012.
The subject property was financed using $2,500,000 from the City of Cincinnati, $7,573,510 in NMTC, $7,703,942 in federal historic preservation tax credits, $3,800,000 project based TIF, $6,000,000 from CNMF II, and $30,231,697 in conventional financing.
According to a case study produced by the Urban Land Institute, "Construction financing was provided by loans from Build Cincinnati Fund ($4 million) and Republic Bank & Trust Company ($9 million). The Build Cincinnati Fund loan was through Cincinnati Development Fund, a nonprofit lender that finances community revitalization in Greater Cincinnati. 21c replaced this $13 million of construction financing with permanent long-term financing from Republic Bank."
