TUSCUMBIA, Ala. (WHNT) – Earlier this month, News 19 reported that a historic building in Tuscumbia would be closing its doors this week. But the business’s new owners have already made plans to re-open them.

The Palace in Tuscumbia is set to temporarily close from January 20-30.

The business was purchased by a group of local business owners who say they will be making small improvements to the restaurant’s menu.

One of the co-owners, Ashley Morrow, told News 19 that she’s very excited to bring new life to a historic building.

“What we’re doing is continuing to create space in Tuscumbia that makes this a great place to do business in, to shop, and to bring your family,” Morrow said.

The group also purchased another nearby historic business, which used to be the Coldwater Book Store. The original business closed down in 2020.

“This served as the anchor bookstore for Downtown for decades,” Morrow said. “This building is so beautiful and it has so much history. It’s almost like you can smell it and feel it when you walk in.”

Morrow said they’ll be transforming the bookstore into a cafe. Local small business owners will also be able to sell things in their market area.

“Being able to reopen the cold water books building in any form or fashion creates that anchor store for Downtown that people have missed for the last three years,” Morrow said.

In this new store, they will also be hosting weekly acoustic music performances called “The Coldwater Sessions.” The series will include both local and national artists who may have roots in the Shoals Area.

The new business is set to open sometime in mid-February.