Hope Ranch, California

It is bounded on the east by Santa Barbara, on the north and west by the unincorporated area of the eastern Goleta Valley, and on the south by the Pacific Ocean.

[3] In 1877, Thomas Hope's widow sold 2,000 acres comprising the western portion of the ranch for $250,000 to the Pacific Improvement Company, a holding company formed by the four principals of the Southern Pacific Railroad: Charles Crocker, Collis Potter Huntington, Leland Stanford, and Mark Hopkins Jr.[4] Initial plans to build an 800-room hotel on the property were not consummated, and the Pacific Improvement Company instead announced plans in 1900 to subdivide the land for the construction of villas.

[5] In 1925, Harold S. Chase organized a syndicate known as La Cumbre Estates Corporation that purchased the 1,200 acres situated west of Las Palmas and Roble Drives and the agricultural land located south of Hollister Avenue.

On the east Hope Ranch is bounded by the City of Santa Barbara, on the north by Modoc Road, Hollister Avenue, and Vieja Drive, on the west by a vacant tract of land known as More Mesa, and on the south by the Pacific Ocean.

Hope Ranch occupies a hilly area immediately adjacent to the coast; the highest elevation is 691 feet (211 m).

In addition to being one of the most expensive neighborhoods in Santa Barbara, Hope Ranch is one of the wealthiest areas in California; the median home price was $2.61 million in 2006.