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The city is also a popular surfing destination, with surfers from around the world coming to catch some of the best waves that Southern California has to offer. Manhattan Beach was originally part of Rancho Sausal Redondo, an 1839 Mexican land grant owned by Juan Jose Dominguez. In 1900 a group of real estate investors came together and purchased 2 miles (3 km) of oceanfront at $1 per acre ($2/ha). The investors formed the Manhattan Beach Improvement Company in 1902, and they began selling lots as summer homes for tourists visiting Los Angeles on vacation. A hotel was built near Ocean Avenue in 1905; it burned down in 1920 and was replaced by another hotel called "The Ambassador." This second hotel burned down within the next decade. The Ambassador Hotel's ruins eventually became "The Sand" sculpture exhibit.In 1909 Henry Huntington acquired 13 acres (5 ha) just south of that site along Pacific Coast Highway where he built his private beach club called 'Huntington Pier'.