The Sunbury and Erie Railroad, renamed the Philadelphia and Erie Railroad in 1861, reached Lock Haven in 1859, and with it came a building boom. Hoping that the area's coal, iron ore, white pine, and high-quality clay would produce significant future wealth, railroad investors led by Christopher and John Fallon financed a line to Lock Haven. On the strength of the railroad's potential value to the city, local residents had invested heavily in housing, building large homes between 1854 and 1856. Although the Fallons' coal and iron ventures failed, Gothic Revival, Greek Revival, and Italianate mansions and commercial buildings such as the Fallon House, a large hotel, remained, and the railroad provided a new mode of transport for the ongoing timber era. A second rail line, the Bald Eagle Valley Railroad, originally organized as the Tyrone and Lock Haven Railroad and completed in the 1860s, linked Lock Haven to Tyrone, to the southwest. The two rail lines soon became part of the network controlled by the Pennsylvania Railroad.