The IIF was able to invest in development projects due to Disston's purchase, and an opportunity to improve transportation arose when oil tycoon Henry Flagler began purchasing land and building rail lines along the east coast of Florida, as far south as Palm Beach in 1893. Along the way he built resort hotels, transforming territorial outposts into tourist destinations. The land bordering the rail lines was developed as citrus farms. By 1896 the rail line had been extended to Biscayne Bay. Three months after the first train had arrived, the residents of Miami voted to incorporate the town. Miami became a prime destination for extremely wealthy people after the Royal Palm Hotel was opened.