The Lakeside Gold Rush
Wealthy Tacomans shift their sights from Gravelly Lake to American Lake as prime real estate becomes a hot commodity.
American Lake property is coming into demand with the advent of spring and a big deal was made yesterday, E. F. Gregory selling to John W. McFaden three and four-tenths acres adjoining the new cottage of Chester Thorne with a lake frontage of 400 feet for $6,000. Practically all the property round Gravelly and Steilacoom lakes is now off the market, having been purchased for fine homes by wealthy Tacomans, and the movement is now to American Lake, according to realty dealers.
“Practically all the property round Gravelly and Steilacoom lakes is now off the market.”
The Gilded Age enthusiasm for 'fine homes' on American Lake established the area's reputation as a playground for the wealthy—a trend that continues to shape land use and access debates in the region today.
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