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11-04-2009 :: 21c Museum Hotel Coming to Cincinnati
FOR IMMEDIATE RELEASE Contact: Kelly Leon (513) 621-4400 ext 113 or kleon@3CDC.org
The Walnut Street revitalization continues…
Historic “Metropole Hotel” Will Be Restored to its Original Purpose and Grandeur as 21c Museum Hotel
The Cincinnati Center City Development Corporation has purchased the Metropole Hotel, a historic downtown Cincinnati landmark at 609 Walnut St., and intends to work with Louisville-based 21c Museum Hotels LLC to renovate it to its original purpose as a hotel.
The Metropole, recently listed on the National Register of Historic Places, was built as a hotel 97 years ago. Adjacent to the Lois and Richard Rosenthal Center for Contemporary Art and across the street from the Aronoff Center for the Arts, the restoration of this building will further establish that block of Walnut Street, as an arts and entertainment destination for the city of Cincinnati. The total project cost is estimated at $48 million.
21c Museum Hotels was named 6th best hotel in the world and #1 hotel in the U.S. in the November issue of Conde Nast Traveler. 21c is committed to supporting the revitalization of American downtowns and to increasing cultural tourism. 21c Cincinnati will feature 160 rooms, a contemporary art museum with more than 8,000 square feet of public exhibition space, a new restaurant and meeting space. The 21c team, and its Cincinnati partners, will restore the building following federal standards for historic rehabilitation.
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Based on current estimates, the project will create about 540 construction jobs and about 160 permanent employees with the opening of the hotel, restaurant and gallery.
The Metropole currently includes 230 housing units for low income residents and typically has about a 10% vacancy rate. Over the next year, a sensitive relocation process for Metropole residents will be underway managed by Brickstone Properties. Brickstone has 25 years experience renovating and managing affordable housing in Cincinnati. (See supporting documents for more information about Brickstone Properties.)
During the relocation process, Brickstone will work one-on-one with each resident, giving special care and attention to tenants who are elderly or have special needs. Participation in the relocation program will insure that tenants monthly rent will not increase and all related moving expenses will be covered.
The Metropole project will compliment major investment made by the Cincinnati community in recent years to redevelop Fountain Square as well as construction of the Aronoff Center and Contemporary Arts Center. Other recent projects on Walnut Street include the reopening of the former Phoenix Café as the Righteous Room; Bootsy’s, produced by Jeff Ruby; and the upcoming renovation of the former Maisonette site on Sixth Street. The renaissance of Fountain Square alone has, to date, resulted in more than $125 million in private investment on or around the Square.
“The future restoration of this signature downtown building is very exciting and important news. The highest priority right now is that the current residents are given the time and assistance they need to find new and improved housing,” said Steve Leeper, president and CEO of 3CDC. “We are working with Brickstone and the city to insure that the relocation plan addresses the concerns and meets the needs of the residents and ultimately results in improved, higher quality living conditions.”
In the 1970s, the Metropole was converted from a hotel to 220 efficiency and 10 one-bedroom apartments for low income residents. About 207 adults currently live in the Metropole. Brickstone relocation experts will offer to work closely with all residents to insure as little disruption as possible.
Given the age of the building, the small units, (efficiencies 312 SF, one bedrooms 424 SF) and its lack of modern amenities including central air conditioning, the building’s owner, Showe Builders Inc., had been in the process of considering the future of the building. Talks between Showe and 3CDC ultimately resulted in a contract for 3CDC to purchase the Metropole.
Approximately 95% of the project’s cost will be funded privately through the 21c Museum Hotels and 3CDC. A capital funding request will be made to the city for approximately 5% of the total project cost.
The Metropole was built in 1912 and an addition was added around 1924. It was originally constructed as a 10-story, luxury hotel with a partial 11th floor penthouse. The last hotel built in downtown Cincinnati was the Hyatt Regency, located on Fifth Street, in 1984.
The first 21c Museum Hotel—located in Louisville’s West Main Street Historic District—plays a key role in the life of that city and has helped to further raise national recognition for Louisville’s downtown arts and theater district. The critical and financial success of 21c Museum Hotel has established it as a market leader in the hospitality industry in Louisville and as a nationally recognized destination. (More details in attached “21c Museum Hotel Fact Sheet”)
21c Museum Hotel works with local artists and arts organizations through programming and partnerships and fosters local sustainable agriculture through its award-winning restaurant Proof, which serves contemporary American cuisine featuring regional ingredients.
“In Louisville, we have proven that art drives commerce and when we consider locations for 21c Museum Hotels, we focus on how we can enhance the cultural and civic life of the community and encourage tourism,” said Steve Wilson, Founder and Chairman of 21c Museum Hotels. “We’re very excited about the opportunity to bring a 21c Museum Hotel to Cincinnati to serve as this unique type of economic catalyst. And we look forward to creating a 21c Museum Hotel that reflects the unique character of the Queen City.”
Surrounded by the Lois and Richard Rosenthal Center for Contemporary Art and the Aronoff Center, the Metropole is located in the center of the downtown Cincinnati arts district. “This historic building is a potential jewel just waiting for a hotelier of the caliber of 21c to restore it to its original grandeur. 21c will bring local residents and visitors downtown and provide a major boost for our reputation as a destination for the arts,” said Dick Rosenthal, an emeritus trustee of the Contemporary Arts Center.
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