Those planning Lexington’s 21c Museum Hotel say the $40.5 million project will take longer than expected, but should come sometime in 2015.

The growing Louisville-based hotel company bought the historic First National Bank building and an adjacent structure in Lexington’s downtown last year, winning city approval for design plans shortly after. Once planned for office tenants, the boutique hotel in Lexington’s downtown apparently sustained more water damage than previously thought. New York–based Deborah Berke Partners has been tapped to design the boutique hotel. The firm also designed 21c Museum Hotels currently operating in Louisville, Cincinnati, and Bentonville, AR.

As for its design, 21c CEO Steve Wilson told Kentucky.com:

As in the 21c hotels in Louisville and Cincinnati, the restaurant will be its own entity, with a high profile.

The hotel will not be pretentious, Wilson said: “No gilt mirrors.”

Despite the pared-down aesthetic, it will be luxurious, with top-flight service, bedding and amenities; there will be light in all the right places, Wilson said.

There might be polished concrete floors or a chandelier of scissors, he said.