The city of Lake Wales is taking decisive action to reclaim its historic Walesbilt Hotel, voting to buy back the long-vacant landmark for $450,000 in a move city leaders hope will spark a new era of downtown revitalization. The 10-story hotel, which has stood empty for decades, is set to return to city ownership after a failed redevelopment and years of legal wrangling. “This is a big deal for this city,” said Lake Wales Deputy Mayor Robin Gibson, underscoring the significance of the purchase. The city is acquiring the property from the same developer it entrusted with the building in 2010, after previous plans to transform the hotel into a mixed-use retail and residential tower fell through. “We had a plan with a developer that did not materialize. And that has been the subject of litigation which we’ve now come through,” Gibson explained. The Walesbilt Hotel, built in the 1920s during Florida’s land boom, was once a symbol of prosperity. However, after changing hands multiple times and sitting idle since the 1990s, the building became a visible reminder of stalled progress in downtown Lake Wales. The city’s renewed effort to restore the hotel comes as part of a broader push to revitalize the area, which has already seen investments in landscaping and public art. This time, city officials are determined to ensure a different outcome. They plan to seek a new developer who will be required to have “skin in the game,” with a vision focused on creating a boutique hotel, retail spaces, and possibly a restaurant. “Inviting people to come stay in Lake Wales and support local businesses,” Gibson said, is central to the city’s strategy. Local residents and business owners are optimistic about the project’s potential. “Well, I think it will bring a lot more people to the area once it’s all finished. And it looks nice,” said Pat Smith, a visitor to Lake Wales.