In 1954, Princess Angela Sherbatoff sold the lodge and
surrounding acreage to Lewis and Angela Wadsworth who maintained
the estate as a retreat. In 1973, the Wadsworths built a
permanent caretaker's home to the south of the lodge on a natural
island surrounded by salt marsh and creeks. Upon Lewis
Wadsworth's death, the estate promoted the property for
acquisition by the State. This effort was supported by the
County and was the catalyst for the voter referendum in 1988 to
enact the current Flagler County land acquisition program.
However, the acquisition efforts failed. The property, instead,
was purchased by Conway and Polly Kittredge from the
estate. The Kittredges continued negotiations with the
County for public acquisition.In October 1993, the Board of County Commissioners of Flagler County purchased 435 acres of the property by using its land acquisition funds and approximately $1 million in funding from the State of Florida through one of the first Preservation 2000 Grants. Governor Lawton Chiles formally dedicated the Princess Place Preserve in August of 1994.
The County was awarded a Special Category Historic Preservation grant from the Department of State for restoration and stabilization of the historic Princess Place Lodge, now used as a public meeting place and for historical interpretation. The renovation of the Lodge has been completed and the total restoration project cost was $365,939. This was funded in part by the $275,000 grant from the Department of State and in part by the County's Environmental Enhancement and Education Program (EEEP). The project consisted of the restoration of the doors, walls, woodwork, floors, windows, fireplaces, gutters, bathrooms and kitchen. A small office, kitchen and new public restrooms were also provided. A new pine shake roof was installed and repairs were made to the coquina walls and porch under-framing. The electrical and mechanical systems were replaced including new wiring, HVAC system, lighting, and security/alarm system. The building hardware was restored to working condition. Handicap access was also provided according to ADA standards. The interior woodwork and plaster walls were restored and stained or painted the appropriate historic colors, for example, the door and window frames were repainted the historic color of "plantation green."