The Heritage Trust is set to be a tenant, with the remainder of space to be leased to other companies. The building, built in 1923, was originally home to the Masonic Temple and was later a movie theater. The property was then home to Home State Insurance and the Journal Record Newspaper.
Payne said the name of the property may change as it is redeveloped.
“We want it to reflect the future of the building,” Payne said. “It could have a new name all together. It could reflect the needs of an anchor tenant or us for our purposes.”
The western third of the building is owned and occupied by the Oklahoma City National Memorial & Museum. Kari Watkins, director of the memorial, is eager to see work begin.
“As 2015 marks the 20th anniversary of the bombing, one of the best things we can do to keep the memory alive is to keep moving forward,” Watkins said. “We can do that by bringing life to that side of the building. The memorial is as strong as the people around it. We want it rebuilt and we want to bring more development to the area.”