Lake City leaders announced Wednesday a new 57-room boutique hotel, The Inn at the Crossroads, will be built off of West Main Street in downtown Lake City.
Construction is expected to start in January and the hotel should be finished by next fall.
The $8 million dollar hotel will include a courtyard, new streetscape and will incorporate two old store fronts.
Lake City Mayor Lovith Anderson believes the hotel will jump start revitalization efforts.
"It's going to definitely revitalize downtown. I mean 57 rooms and the clientele is already there. I truly see myself there. By the time they finish with that, it's going to be time to expand," said Mayor Anderson.
He says the hotel project is a true sense of collaboration with partners at the Lake City Community Foundation and the Lake City Partnership Council.
The Foundation's Chairperson, Darla Moore, says the project is not only a validation, but real progress in changing the economic landscape of our town.
"There is a great deal more work to be done, but the announcement today tells us we are on the right track," said Moore.
Officials expect the hotel to spark economic development in Lake City, as well as attract other businesses to the downtown area.