Plans to redevelop a historic hotel in DeLand failed to advance despite a promised subsidy from the city.
Sarasota-based developer Tony Collins was unable to gather enough investors to redevelop the 112-room Putnam Hotel by a deadline the city set.
In June, the DeLand City Commission voted to invest $500,000 over five years to help Collins redevelop the hotel as an apartment building.
In August, the commissioners extended by 90 days their deadline for Collins to raise sufficient financing from other sources, but he had failed to do so when the extension expired.
The the city’s founder, Henry DeLand, built the original version of the Putnam Hotel at 225 West New York Avenue in DeLand, then sold the hotel to a former owner whose name it bears, Alfred Putnam.
After burning to the ground in 1921, the current version of the Putnam Hotel was built on the site of the original structure and opened as the first fireproof hotel in Florida. [Daytona Beach News-Journal] — Mike Seemuth