The development of a full-service, 82-room boutique hotel dubbed Elsby Hotel in New Albany, Indiana, has been announced. The announcement was made by The Resch Property Group along with The Sprigler Company.
The project manager, Jacob Resch, predicts the development will start in the late spring of 2023. It will employ up to 100 new employees and cost approximately US$ 29M.
Scope of the project
The project will involve the redevelopment of the Elsby Building, a structure that has been home to offices for more than 100 years. Co-owners of the building, Chad Sprigler, and Steve Resch, bought it in June 2021.
Wherever it is practical, the project will preserve the structure’s original features. This includes the external brick and terra cotta. Further, the rehabilitation of the 1916 Italianate corbel detailing and historically relevant storefronts.
It is also intended to restore the interior’s flooring, decorative accents, and finishings to resemble the original design.
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The design story will embrace unique elements such as the 81,000-tonne Diebold bank vault that was placed by the German American Bank and Trust Company when the building came up. The HVAC, plumbing, and electrical systems in the building will be replaced.
“We are excited that local developers will be restoring the facility and giving it new life as a boutique hotel and event space,” said New Albany Mayor Jeff Gahan. “The Elsby building is one of the most iconic and historic buildings in the Midwest.
Expectations for the Elsby Hotel in New Albany
The new Elsby Hotel in New Albany is expected to be opened by Spring 2025. It will feature three food and beverage establishments, including a rooftop bar, a first-floor restaurant, and a lower-level speakeasy.
Additionally, a new 13,000-square-foot event and conference center are among the new social and meeting facilities that are planned for the property. A meeting or conference can fit up to 1,300+ people in the huge event hall.
