Lake Wales downtown revival: Historic hotel restoration and new ACE district launch
Polk County's first open-container district launches
A massive economic transformation is sweeping through downtown Lake Wales following the approval of a specialized entertainment district and a boutique hotel restoration project. FOX 13's Carla Bayron reports.
LAKE WALES, Fla. - A massive economic transformation is sweeping through downtown Lake Wales following the approval of a specialized entertainment district and a boutique hotel restoration project.
Lake Wales hospitality growth
What we know:
The historic Walesbilt Hotel is transforming into a boutique destination through a partnership with Restoration St. Louis. Construction is slated to begin within 15 months, targeting completion between 2028 and 2029. To support the hotel, the city bought the neighboring Peterson Meijers building to provide up to 170 parking spaces.
A 15-year study shows this growth could increase surrounding real estate values by up to $20 million. City spokesperson Eric Marshall said hundreds of jobs will be created, and other investors have already placed contracts on local buildings.
Alongside the hotel, Gov. Ron DeSantis approved the Arts and Cultural Entertainment (ACE) District. This walkable zone permits visitors to carry cocktails openly between participating downtown businesses. Establishments in the district must serve drinks in clear containers marked with the official ACE logo.
The current footprint features two restaurants and bars, allowing the city to evaluate operations before expanding. Officials said the ultimate goal is creating a "city in a garden" where people can commute easily between parks, neighborhoods and downtown.
Florida entertainment district limits
What we don't know:
Officials have not yet confirmed the exact start date for hotel construction within the projected 15-month window. It also remains unclear which specific new businesses will join the entertainment zone next.
The Source: The information in this story was gathered by FOX 13, investigating the economic impact of local revitalization efforts, as well as city spokesperson Eric Marshall.