The city of York received $350,000 in Community Development Block Grant money to improve the building. So far, the restoration has cost $1.58 million. The former hotel was restored by owner-developer DeWayne Anderson of Landmark Asset Services in Greensboro, NC. Anderson bought the building last year from the Palmetto Trust for Historic Preservation. The city's Historic Commission approved plans for the building's reconstruction.

William Edward Rose was one of the original owners of the hotel. It was the site of social functions for the wealthy during the late 1800s.

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