The promoters of La Porte returned to Houston as the church bells tolled the New Year of 1892, after deciding to sell one hundred lots locally for $30 each, and these were sold from the Harris County Courthouse steps on the first day of the new year. They immediately began building a new hotel, and while its well was being drilled, the first of many artesian wells came in, giving the Artesian Hotel its name. Built on the corner of 3rd and Main Street, the large frame hotel housed new landowners expected to come to town. It had 40 rooms, and an annex with another 30 rooms was added soon after completion. The annex was later sold to early settler John Beasley, who moved it near Sylvan Beach and renamed it the Beasley Hotel. An outbuilding served as a laundry, and another building housed employees. The laundry building was moved to Broadway Street, where it continued as a laundry and later as Posey's TV. The servants' quarters remained at the hotel’s original location and still exist today as the only remnant of the once magnificent hotel. In 1899, financial trouble affected the original promoters, and the main building was moved to what eventually became New Town, at the corner of East Main and Blackwell Street, where it was renamed The Carrollton in honor of one of the new investors.