Shatto laid out Avalon's streets, and introduced it as a vacation destination to the general public.
Despite Shatto's efforts, in a few years he had to default on his loan and the island went back to the Lick estate.
By 2014, the Santa Catalina Island Company was working on a number of redevelopment and remodeling projects, including a spa, aquatic facility, community center, new hotel, and 120 new homes.
The largest project was a new $6-million museum building on Metropole Street to replace the old location in the Casino building.
Avalon attracts about 1 million visitors a year and is frequently visited by cruise ships.
Prior to the modern era, Avalon Bay was inhabited by people of the Gabrielino/Tongva tribe.
The sons of Phineas Banning bought the island in 1891 from the Lick estate and established the Santa Catalina Island Company to develop it as a resort.
The Banning brothers fulfilled Shatto's dream of making Avalon a resort community.
Some community members, including a member of the City Council, expressed concerns about the pace of the changes to the town.
It is the only incorporated city to be located on one of the eight Channel Islands of California.
The Conservancy now stewards 88 percent of the island, primarily outside of the City of Avalon.