LOUISVILLE, Ky. (WDRB) -- All of the permits have finally been secured and work is now underway on a new upscale hotel to be built on the corner of First and Main Streets in downtown Louisville.
It was back on November 6 of last year that plans were unveiled for a $24 million Aloft Boutique Hotel.
Now crews are demolishing the Marine Electric building to make way for the hotel.
Workers are also erecting bracing on the front facade of the old building. It will be saved and incorporated into the new eight story hotel tower.
"That was something we always proposed to save," says developer Steve Poe with Poe Properties. "We knew the new building needed to be part of the fabric of historic Main Street and we wanted to be part of that."
Poe believes the hotel's location will make it a big hit.
"We are a block from the arena (KFC Yum! Center)," says Poe. "We've got all of the activity along Main Street going on, we have night life, we have a parking garage already here, and we have Humana across the street."
The hotel will have 175 guest rooms, meeting space, and a fancy street side bar that will open up to the outside.
"At the corner of First and Main," explains Poe, "we have actually designed a window wall system where it just opens up to the outside and we will be able to bring the hotel's bar and lobby right out to the outside."
Besides the Aloft Hotel, new downtown hotels currently under construction and set to open this year are an Embassy Suites in the old Stewart's Hilliard-Lyons building and a Hilton Garden Inn at Fourth and Chestnut.
Poe believes there is room for everybody.
"The major hotels are still achieving 70 percent occupancy rates downtown and there are a lot of days that the hotels downtown are sold out and I think all of that energy that is going on downtown creates more demand," he says.
Poe hopes construction of the Aloft Hotel will be finished for an opening twelve to fourteen months from now.