One of the town's most ornate buildings, dating from 1902, The Mount is falling into disrepair and has been attacked by vandals.
But after complaints it is becoming an eyesore, Wyre Council has revealed a mystery tenant has expressed an interest in taking over the prominent seafront building.
Ken Daniels salvaged the Mount from closure with friend Nick Tomlinson in the 1970s, when they opened an art gallery on the site.
He said: "We exhibited our own artwork there for many years before the craft society took over. It was good that the Mount was being used for something of benefit to the community, instead of being boarded up and vandalised as it is today. The council needs to improve it."
Margret Daniels, chairman of Fleetwood Civic Society, said: "It is a great shame to see the hub of Fleetwood in such a state, particularly as it was the civic society who fought to get the pavilion restored in the first place. It is very upsetting to see the site closed to the public, yet being vandalised" "
The Mount celebrated its 100th birthday in 2002 with a day of vintage attractions which proved popular with local schools, businesses and residents.
But Mrs Daniels, who was involved at the venue for 16 years, feels without investment from Wyre Council, no business will touch the site, which was advertised for lease earlier this year.
In a statement, Wyre Council has offered a glimmer of hope for the site ,as a potential letting has been proposed and will now be submitted to planning officers for further discussions. At the moment, the council can give no further details, as plans are said to be "commercially sensitive".