 He formed his own company, Del Monte Properties, in 1919, in order to acquire these assets.Funded by Herbert Fleishhacker, he bought on the Monterey Coast including the Hotel Del Monte, Pacific Grove, Pebble Beach and the Rancho Laureles, now the village of Carmel Valley, and the Monterey County Water Works- all for $1.34 million.Morse planned to use this land to develop a community within the forest centered around the Del Monte Lodge, and he had many plans for the rest of the area as well.