Mount Elizabeth and its surrounding property were purchased by explorer William Henry Racey in the late 1850's. In 1891, his son Charles Racey built a three-story wood-frame house on the mound for his family and began a pineapple and citrus plantation there. After that home burned to the ground in 1921, the Racey family sold the property to a New York judge. In 1936, Atlanta businessman Willaford Leach and his wife Anne Bates Leach, a Coca-Cola heiress, bought Mount Elizabeth and built the Mediterranean Revival home that still stands, naming the estate Tuckahoe; it was completed in 1939. Set on about 54 acres of riverfront woodland and rolling lawns, Tuckahoe became a center of social life in Martin County, hosting many parties attended by local society and World War Two soldiers from Camp Murphy. Anne Bates Leach helped organize The Garden Club of Stuart and donated funds for The Anne Bates Leach Eye Hospital, affiliated with Bascom Palmer Eye Institute in Miami. In the early 1950's, the Leaches moved to Palm Beach and sold the property to the Catholic Church, after which it became a novitiate of the Sisters of Saint Joseph and the mansion served as a dormitory. In 1966, lay students were admitted, and the school became Florida's only two-year liberal arts college before economic difficulties led to its closing in 1972. That same year, Florida Institute of Technology bought the property and established a four-year college there offering advanced degrees in marine-related subjects, with the mansion serving as the administration building and student center, but operating expenses forced the school's closure in 1986 after 14 years. The estate then stood vacant until local community leaders led a successful referendum drive encouraging Martin County to buy it. In 1997, the property became the site of Indian RiverSide Park. Restoration of the mansion was completed in 2009, and it was placed on the National Register of Historic Places in November 2005 with the help of the Friends of Mount Elizabeth.