In 1916 Penrose purchased a site outside the boundaries of the city for $90,000, from Prussian Count James Pourtales. Penrose commissioned architects to design the hotel of his dreams. After reviewing several designs, Penrose selected the design of the firm Warren and Wetmore, known for their work in New York City, including Grand Central Terminal. The contractors broke ground in April 1917 and a grand opening was held at the hotel on June 29, 1918. Its cost exceeded $3 million. The Broadmoor attracted numerous visitors. Targeting Midwesterners, Penrose placed advertisements in notable publications and invited celebrities to pose for photos and provide testimonials to the opulence of the Broadmoor. The accompanying golf course also attracted wealthy visitors from across the country.