 In 1889, on a site just north of the corner of First Avenue and St. Joseph Street, adjacent to the Santa Fe tracks, Baldwin opened the 35 room Hotel Oakwood to be the centerpiece of his new town.In 1890 the extant Rancho Santa Anita Depot was built.By the turn of the 20th century, Arcadia had a population nearing 500 and an economy that was becoming based on entertainment, sporting, hospitality, and gambling opportunities, the latter including an early version of the Santa Anita race track.