In 1906, Burton E. Green (1868–1965) and other investors purchased the property that would become Beverly Hills, formerly named Rancho Rodeo de las Aguas, with plans for a mixed-use subdivision with a branch of the Los Angeles and Pacific Railway running North on Rodeo Drive before turning west at Sunset Boulevard. They platted the street that very year, in 1906. By 1907, parcels on Rodeo were selling for $1,100 each. It became a bridle path in 1912, when the Beverly Hills Hotel was built on a former lima bean field. By November 1925, similar lots were selling for between $15,000 and $30,000, almost double what they'd been selling for in September.