A new hotel is planned for a site just across the river, according to Louisville Business First.The Elsby Hotel has been proposed for the Historic Downtown District of New Albany, Indiana. A news release said co-owners Steve Resch, of Resch Property Group and Resch Construction, and Chad Sprigler, of The Sprigler Company, plan to build the full-service, 82-room boutique hotel at 117 E. Spring St.Anticipated to open in the spring of 2025, the hotel will be a $29 million investment. Construction is set to begin this spring.Resch and Sprigler, both based in New Albany, purchased the building in June 2021. The release said the hotel is an adaptive reuse of the Elsby Building, a 100-plus year-old building that previously housed office space.The hotel is planned to have three food and beverage outlets, including a rooftop bar, a first floor restaurant and a lower-level speakeasy. A 13,000-square-foot event and conference center, with a capacity of over 1,300 people, will be constructed on an adjacent lot on the property.Named after its owner and builder Samuel J. Elsby, the Elsby Building opened in 1917 as home to the German American Bank and Trust Co. and other prominent New Albany area professionals, including former U.S. Senator and Supreme Court Justice Sherman Minton. The release said it is the tallest building in the New Albany downtown streetscape.To read more about this development and others, head over to Louisville Business First