The Atlantic Coast Line Railroad depot was built at the urging of Dr. Melvil Dewey. He then petitioned the state to have the town's name changed from Lake Stearns to Lake Placid, as it was a winter residence for the Lake Placid Club of New York. Passenger service continued until the 1960's, then the station was closed in 1975. The Historical Society of Greater Lake Placid, Inc. was established in May, 1982. The railroad deeded the depot to the Society in 1984 and it was transformed into a museum.