by Cathy O'Connor via The Journal Record: August 9, 2016
If you’ve been to the Skirvin Hilton in recent weeks, you’ve noticed construction and fresh finishes throughout the historic hotel. The Skirvin has been an important investment both publicly and privately, and is arguably Oklahoma City’s most important historic preservation project to date.
The Skirvin opened in 1911 but sat vacant and deteriorating for years after closing in 1988. The city purchased the hotel in July of 2002, and the hotel reopened in February of 2007. The $56.4 million funding plan approved by the City Council in 2006 included a mix of public and private sources. The public investment called for repayment through loan proceeds, ground lease payments based on the success of the hotel and a portion of the proceeds from the future sale of the hotel.