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. This land bubble concept would never go away, with towns and counties directly surrounding the area with exponentially cheaper land prices. In 1885, the Congregational Assembly of Florida started Rollins College, the state's first four-year college. Rollins College today remains one of the hallmarks of Winter Park. It is the second most expensive college in the state with a tuition of $64,972 per year. Rollins is a relatively good, small liberal arts school with a total student body of just over 2,000 students. However, the high price makes the overall rating of the school more into the middle of the pack of colleges around the country. The school's business school is the Crummer School of Business. where students can earn a MBA, is a premier Business School. It is the number one business school in Florida. Rollins has been and will always be an integral part of Winter Park's history and culture. Back in 1886, 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. Today, this street is a cul de sac called Kiwi Circle that is part of one of the nicest neighborhoods in the town. Presidential visits The first president to visit was Chester A. Arthur, who reported that Winter Park was "the prettiest place I have seen in Florida",. President Grover Cleveland visited the area and was given a huge reception at the Seminole Hotel on February 23, 1888. He enjoyed the Bounding Horse Cart ride and stated that it was the most pleasant diversion of his Florida trip. The New York Times reported on his visit that "The Philadelphian and Bostonian founders had done a good job with the town." The following four years both hotel and the town became a fashionable winter resort for northern visitors. The next president to visit the area was Franklin D. Roosevelt in March 1936. He was conferred an honorary degree in literature at Rollins College.