In 1891, G. A. Williams of Chicago proposed building a summer resort hotel in Pentwater at a cost of $75,000, with another $10,000 for furnishings, while the village would donate the site and contribute $15,000, and Pentwater Township voted a $20,000 bonus to be paid upon completion. The hotel was to be named for Williams's wife, Valeria. By 1893, Williams had spent $100,000 trying to complete the exterior, but when the building was still unfinished in 1908, the town panicked and the property reverted to the state, and Pentwater used the proposed bonus money to pay back taxes. In 1910, Pentwater gave the structure and land, valued at more than $100,000, to local businessman F. O. Gardner on condition that he spend $5,000 on repairs, which he did, while reserving the right to use one room as the town hall. Before the transfer to Gardner, there had been an ambitious but unrealized plan to convert the building into what was intended to be Michigan's largest ice plant. During Gardner's ownership, he sought manufacturing tenants, including a proposal by L. C. Haight of Muskegon to establish knitting mills there, but nothing came of it, and at times the ground floor of the tower served as a farmer's market despite its artfully designed matched hardwood floor. In 1921, Gardner sold the building to J. L. Littler, a retired Chicago businessman who owned other property in town. The building's floor plan included the Tower Theater and stage with seating for 500, and the Grand Hall/Gymnasium hosted basketball games and dances, while the building also housed the library and village offices. It burned down in 1928, though enough brick was salvaged to build the Miracle Theater and create the Village Green.