Miami-based developer Amit Patel with Elmwood Hospitality LLC has announced plans to build a new 119-key Residence Inn hotel in Elmwood.
The hotel at 1080 Elmwood Park Blvd. will have 85,000 square feet across four stories, and 119 rooms at about 500 square feet each. Each suite will share a full kitchenette. Other amenities include a basketball court and a outdoor patio area.
Consultants on the project include Lake Charles-based Patel Construction and architect Francisco Alecha.
Patel purchased the land for $2 million in December according to Parish records, and has secured a $10.8 million loan from First NBC Bank. Total hotel construction costs will be $14 million. With land costs, project costs come out to around $135,000/key.