Exciting news is buzzing around Lake Wales, Florida! The historic Walesbilt Hotel is set to undergo a major revitalization after lying vacant for two decades. The city regained ownership of the property in May 2022 following a long legal battle with its previous owner. Residents and history lovers alike are eager to see this beloved landmark restored to its former glory.
Currently, cleanup and development efforts are underway at the hotel, which originally opened its doors in 1926. The restoration project is expected to cost several million dollars, and the city anticipates a reopening within the next three years. The ten-story building, which was once a popular destination for celebrities and travelers, will be refurbished to reflect its original appearance from the roaring twenties.
Restoration Progress and Challenges
However, the renovation of the Walesbilt Hotel has faced delays longer than anticipated. Negotiations with the selected firm, Restoration St. Louis, are ongoing, and a deal is not expected until at least February. City Commissioner Robin Gibson provided this update during a meeting of the Lake Wales Community Redevelopment Agency (CRA) on January 13. Restoration St. Louis was unanimously chosen for the renovation in October, but discussions have been complicated by the firm’s intent to heavily leverage federal tax incentives for historic preservation.
Amrit Gill, CEO of Restoration St. Louis, emphasized that these tax incentives are crucial for the project’s viability. The Federal Historic Preservation Tax Incentives program, managed by the National Park Service, offers tax benefits for both interior and exterior renovations, which could significantly aid in the Walesbilt’s restoration efforts. As the CRA aims to enhance property values and increase tax revenues in the area, the city plans to contribute to the Walesbilt project, matching funds akin to those allocated for downtown renovations.
Future Vision for the Walesbilt Hotel
The hotel’s future use will be determined by Restoration St. Louis, who will also function as the future owner and operator. Plans indicate that the Walesbilt Hotel will join the Marriott Autograph Collection, creating a venue for regional events. To support this vision, Restoration St. Louis is looking to acquire an adjacent property currently housing the Lake Wales Care Center. While the Care Center has agreed to vacate the premises, they have yet to find a new location.
With the adjacent property estimated to have a tax value of around $371,000, the city is also prepared to provide land for valet parking. The CRA originally acquired the Walesbilt Hotel through foreclosure in 2007 and later transferred it to Raymond Brown, who made limited progress on renovations. Following legal action against Brown for fraud, Lake Wales regained ownership in April 2025. Restoration St. Louis was ultimately chosen due to their experience with historic renovations, and Gill estimates the entire project will take about two years.
The Economic Impact of Historic Preservation
The revitalization of the Walesbilt Hotel is not just about restoring a historic structure; it also ties into broader economic benefits. A report titled “Economic Impacts of Historic Preservation in Florida,” published by the Florida Department of State, outlines how such projects can boost local economies through heritage tourism and increased property values. This aligns perfectly with the CRA’s goals for Lake Wales, especially considering the financial challenges faced by the state and local governments in recent years.
As the community eagerly anticipates the transformation of the Walesbilt Hotel, it’s clear that this project holds the promise of not only preserving history but also fostering economic growth in Lake Wales. For more information on the ongoing developments, you can check out the full story on Bay News 9 and additional insights from The Tennessean.
As the Walesbilt Hotel undergoes its transformation, it stands as a testament to the resilience of Lake Wales and the community’s commitment to preserving its rich history while paving the way for a promising future.