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This historic building in New Albany is getting a second life

The Elsby Building was originally constructed back in 1916.

NEW ALBANY, Ind. — A historic building in New Albany is getting a second life as a boutique hotel!

The Elsby Building was originally constructed back in 1916 by Samuel Elsby. 

It was once a German American Bank with a massive custom vault that cost almost one-fifth of the building's construction costs.

Decades later, new developers want to highlight the history of the bank building and its significance to New Albany.

"We want to be able to open this space up to the community, have the community come back in and see all this amazing and ornate detail in the community they live in and welcome out-of-towners back again and again," Project Manager Jacob Resch said.

The developers said they hope to have the hotel opened just in time for the 150th Kentucky Derby next year.

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