Speaking before an architect’s rendering of The Lockwood Hotel, David Greene, president of Colby College, on Monday outlines plans for the hotel that will be built in downtown Waterville.

The Lockwood Hotel, named for the former Lockwood textile mill complex to its south on Water Street, will stand four stories tall with 53 rooms and a restaurant and bar.

The facade of The Lockwood Hotel will be limestone, in keeping with past and present Waterville buildings, including Post Office Square.

Construction of The Lockwood Hotel is the next step in revitalizing the downtown, bringing Colby’s investment there to more than $75 million with a touch of green grass flanking both sides of the structure.