Drury Inn seeks $16M in bond backing for expansion
Developers are seeking $16 million in bond backing from the Industrial Development Board to expand the Drury Inn and Suites in the Central Business District. The expansion will include 60 hotel rooms, a 225-space parking lot, meeting space and an enclosed swimming pool.
Representatives of the Missouri-based ownership will present their pitch at Tuesday’s IDB meeting. The expansion of the property at 820 Poydras St. will toward the back corner of Lafayette and Carondelet streets.
Developers have set a project budget of $15.45 million and say the job will employ 120 people during construction with a payroll of $6.18 million. Once completed, the larger hotel will add 12 permanent jobs with a payroll in excess of $422,000.
Construction is expected to begin March 1, 2011, and completed Sept. 1, 2012