In 1886, Frank T. Botsford came to La Jolla and bought over 400 acres of pueblo lands know as "La Jolla Park". Botsford and his partners, Charles Dearborn and George Heald, subdivided and auctioned $62,000 worth of lots planned for residential development on April 30, 1887. In 1900, La Jolla was home to 350 residents, and in the 1920?s the population grew to 4000. The stock market crash of 1929 brought failure to the La Jolla Shores development and only a few houses were seen there until after World War II. In 1943, 7700 people resided in La Jolla, and by 1960, the population grew to 17,000. The University of California, San Diego was built in the 1960's adjoining the Scripps Institute of Oceanography, which was previously established in 1905 as part of the university system. Today, there are approximately 30,000 residents of La Jolla and what was once a sleepy, seaside village, is now a bustling town with upscale restaurants, boutiques and hotels, and is a worldwide destination with an international mixture of residents. Hillside estate homes and villas with magnificent ocean views dot the landscape, which is often referred to as the "American Riviera", in comparison to the terrain of its French counterpart. In translation, La Jolla means The Jewel and its residents enjoy the privilege of residing in an exclusive neighborhood, unique to the rest of San Diego. La Jolla is renown for its picturesque beaches of La Jolla Cove and La Jolla Shores and provides access to numerous outdoor activities that include kayaking, diving, surfing, hiking in the Torrey Pines Preserve, and is the host city to many marathons and community events. The Birch Aquarium and the Museum of Contemporary Art offer on-going exhibits and tours. Median daytime temperatures are in the 70° range and breezes from the ocean provide fresh air all-year long, accompanied by magnificent sunsets.