Oklahoma County commissioners approved a bond for up to $15 million to help build a hotel at the Alley North campus in downtown Oklahoma City's Automobile Alley district.

The Oklahoma County Industrial Authority will issue the revenue bonds to fund a hotel and daycare center at NW 13th Street and Broadway, The Oklahoman reports. The project represents at least $76 million in total investment under a master economic development agreement with the Oklahoma City Redevelopment Authority (OCRA).

Commissioner Jason Lowe moved to approve the bond at the board's Sept. 23 meeting. The measure passed, according to county meeting records. County Manager Jessica Clayton requested the item.

No public comment was recorded on the bond.

The developer behind Alley North is OperationReadyMix LLC, an Oklahoma company managed by Jonathan Dodson. Under the OCRA agreement, the project calls for at least 85 hotel rooms and 100 multifamily residential units. The agreement also requires at least 30,000 square feet of mixed-use commercial space and 20,000 square feet of office space, which may include a daycare center of at least 8,000 square feet.

OCRA separately committed up to $16.75 million in public financing toward the project's structured parking and daycare components, according to the development agreement. The bonds will be sold on a negotiated basis, with competitive bidding waived.

Construction is already underway on a new corporate headquarters for Guernsey, which will anchor the campus. Site work on a parking garage was starting as of Sept. 25, and construction on the hotel, daycare and shared workspace is set to begin in 2027, according to The Oklahoman.

The commissioners also approved a separate $20 million bond for a broadband project at the same Sept. 23 meeting.