The Florence Hotel was built in two sections, with the south section facing Pikes Peak Avenue completed in 1890 and the north section facing Main Street added in 1891. Built first as the Florence Hotel and then expanded, it was considered one of the best hotels of its time, offering 40 guest rooms at rates from $1.50 to $2.00 a night. In 1891, the Bank of Florence, started by James McCandless and his partner Henry Topping, moved into the lower corner of the hotel before relocating to 101 West Main in 1897. The upper floor continued to operate as a hotel into the mid 1930's, while the lower floor housed many different businesses into the late 1980's, including liquor stores, barber shops and real estate offices. By 1998 the building had fallen into disrepair and faced possible demolition, but Larry Lasha, Leon Lasha, Bob Weller, and Nancy and Lewis Schwartz bought it, called it the Ugly Green Building or the U.G.B., and restored it over the next four years by removing 42 loads of trash and structurally reinforcing the building. In 2006, Canon National Bank, Accent on Life Counseling and Verizon Wireless occupied the north building, while Louie's Place occupied the south section, and although Canon National Bank moved to a larger building that year, its Loan Processing and Bookkeeping Departments remained there in the building the bank still owned.