I can only guess but that one article says the cost to construct the Coast Inn would be about $20,000. So $20,000 is the potential valuation given by the city on this project. The project on Aster was given the potential of maybe $14,000 valuation. Love these interesting little details.
Another detail to just note in general is that before my grandfather bought the land, it sat inside the Arch Beach town until the city incorporated in 1927. So even though Pappy bought this land while it is in Laguna Beach, some articles may refer to Arch Beach. You will also notice the street name was Cypress originally, later to be changed to Mountain Road.