In 1885, a group of businessmen started the Winter Park Company and incorporated it with the Florida Legislature; Chase and Chapman sold the town to the new company. In a land bubble characteristic of Florida history, land prices soared from less than $2 per acre to over $200, with at least one sale recorded at $300 per acre.
In 1885, the Congregational Assembly of Florida started Rollins College, the state's first four-year college. The following year the Seminole Hotel on Lake Osceola opened. This was a resort complete with the luxuries of the day: gas lights, steam heating, a string orchestra, a formal dining room, a bowling alley, and long covered porches
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