LEXINGTON, Ky. (June 6, 2014) — The Lexington Urban County Council voted Thursday night to fund the 21c Museum Hotel project. The 10-3 vote allows the city to approve a $6 million loan from the U.S. Dept. of Housing and Urban Development, according to the Lexington Herald Leader.
Construction is set to begin this month on the luxury hotel, which will cost about $43 million to build. The historic 15-story First National Building at West Main and North Upper streets, which has graced Lexington’s downtown skyline for more than a century, will be transformed into an arts tourist destination.
The hotel will have 88 rooms, and a restaurant, bar, museum and gallery. Each floor will hold six or seven hotel rooms, which will book for a projected average rate of $190 a night.