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Andalusia’s landmark on the square is rising to new heights with a big makeover and renewed purpose as the Andalusian Boutique Hotel.

Known to many as the First National Bank Building, the six-floor structure was the focus of an event Thursday when city officials and those involved with the hotel announced an $11 million public-private investment for the 58-room hotel.

The partnership involves the City of Andalusia and Jason Wood and his development team, who formed Andalusia Hotel Properties to create the Andalusian Boutique Hotel.

The project also takes in the two upper floors of the former Andala Building, where Big Mike’s Steakhouse is located on the ground floor. The two buildings will be connected with a sky walk.

The building, completed in 1922, is listed on the National Register of Historic Places. The building became vacant in 1972 and was home to a few businesses since that time. In 2007, the City of Andalusia purchased the building with support of the SD Foundation.

For those involved, Thursday’s announcement was the culmination of about five years of planning.

“The idea for the hotel was first conceived five years ago and we have been diligently working to bring that project to fruition ever since,” said Mayor Earl Johnson. “By the time the Andalusian opens, the project will represent an $11 million investment, which as best I can determine is the largest investment in downtown Andalusia’s history.”

Wood has other hotel interests, including in Gulf Shores, Panama City Beach, Grayton Beach and others in his native area of west Alabama, and east Mississippi.

“He owns The Inn on Destin Harbor, and there you can see what happens when you combine modern amenities with vintage charm. We are thrilled that he has chosen to do this project in Andalusia,” Johnson said.

Wood said he was inspired after meeting with local officials and their efforts to revitalize the downtown area.

“At lunch meeting with them, a spark was lit within me as they shared their dreams about the exciting redevelopment plans they had for downtown Andalusia. They were passionate about moving the city forward, moving business forward, while also maintaining the small-town charm that everybody here has come to love,” Wood said.

The city and Wood have worked closely together to take advantage of historic status tax credits and new market tax credits.

“After five years of work, it is about more than just hotel rooms. We’re crafting a legacy. I’m excited to invest in downtown Andalusia and feel this project really is the cornerstone of creating a true live-work-play experience for downtown. I’m so honored to be part of preserving an iconic building and I’m excited to build history with everyone involved,” Wood said.

The hotel will be soft branded as an Ascend Collection by Choice Hotels International and rooms are available in its central reservation network.

The new hotel will be only one block away from Heritage Park, currently under construction on South Cotton Street. The new park will have a water feature, amphitheater, walking trails and biking trails. Phase I is on track to be completed later this year and long-term plans call for the addition of a carousel and other features.

The First National Bank Building was designed by Montgomery architect Frank Lockwood, who also designed the Covington County Courthouse. It was completed in 1922 at a cost of $115,000, or $2.1 million in today’s dollars.

Amendment 725 to the Constitution of Alabama 1901 authorizes certain municipalities in Covington County, including Andalusia, to participate in economic development projects.

Construction for the new hotel is expected to take approximately one year.