Old Stewart's building to become hotel - WDRB 41 Louisville News

Old Stewart's building to become hotel

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LOUISVILLE, Ky. (WDRB) -- The old Stewart's in downtown Louisville is about to become a showpiece again.

Work is finally underway on restoring the old Hilliard-Lyons/Stewart's building at 4th and Muhammad Ali.

"People want to know is it going to happen here," said Florida developer and Kentucky native Eric Bachelor.

Bachelor was in Louisville Thursday to take a look at the $80 million building which he first proposed more than seven years ago.

"The recession hit us and obviously there was no construction during that period," said Bachelor. "However, we have the bank that is supporting us, we have the financing to go forward.

Mary Mosley with the Al J. Schneider Company says "it's been hard to watch this building sit empty."

The project is getting off the ground after hotel and office building owner Mary Mosley of the Al J. Schneider company in Louisville got involved as a minority owner.

For Mosley its not just business, it's personal.

"This has a special feeling for me because it was where everybody came to shop," Mosley said. "This where you got dressed up on Saturday came down and shopped at Stewart's I love it."

As the owner of the Galt House and Crowne Plaza Mosley will bring her expertise to the project which is centered on a 270 room embassy suites hotel in addition to office and retail space.

She believes 4th Street is ready for a big comeback after decades of neglect.

"I think its a lot of investors not just one or two but a lot of small investors there is a lot of activity on 4th street and I think it's the right time."

The project us expected to be completed by the start of 2015.

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