Rising from water's edge on the quaint island of Coronado in San Diego, the Hotel del Coronado is considered one of America's most beautiful resorts. In 1885 founders Elisha Babcock and H.L. Story purchased the entire peninsula of Coronado and North Island for $110,000 and developed it through subdivision and lot sales; they also dreamed of building a seaside resort that would be "the talk of the Western world". Babcock and Story hired architects James, Merritt & Watson Reid who began construction of "The Del" in March 1887 and finished just 11 months later in February 1888 at the cost of one million dollars. The building was constructed in the form of a parallelogram and was built around an open court measuring 250x150 feet. Although the hotel has 750 rooms, it is only two rooms in depth throughout, giving those on the 'inside' a view of a beautiful courtyard, while the others on the 'outside' face either the ocean or the peaceful blue waters of the bay of San Diego. In the 1880s prices ranged from $2.25 per day and upwards by the month, transients from $3.00 per day and upward, according to the room; as of late 2007 prices ranged from $325 to $810 for a single/double room, and from $700 to $4,900 for specialty rooms/suites. The Hotel del Coronado, known today as the Grand Old Lady by the Sea, is located immediately behind the beach, facing the Pacific Ocean; it is the largest beach resort on the North American Pacific Coast. It was designated California Historical Landmark No. 844, it was added to the National Register of Historic Places - building #71000181 on October 14, 1971, and designated a National Historic Landmark on May 5, 1977.