LAKELAND, Fla. -- MidFlorida FCU has canceled plans to restore the 93-year-old federal building in downtown Lakeland, saying the project became too complicated and expensive.
Officials said the credit union’s focus changed in the past few years after it acquired credit unions in Tampa and began building additional branches.
MidFlorida Federal Credit Union had planned to spend $1.5 million on the vacant building, the city's first post office, to restore its 1919 style. The space would have been used for meetings and conferences. Instead, the $1.3 billion credit union plans to convert the 10th floor of its downtown building into a banquet hall.
Construction of the building at Tennessee Avenue and Lemon Street began in 1917, and the building, about 4,000 square feet, was dedicated in 1919. In 1931, the building doubled in size. That addition has been badly damaged by water.
