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In page F. Q. Story Neighborhood Historic District:

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When subdivision of the F.Q. Story Addition began, it was described in advertisements in the Arizona Republican in March 1920 as "The Real Estate Event of the Season!" and "The Place, the Thing, and the Time you have been waiting for." Advertising boasted that the developers "expect to sell this entire tract within thirty days." In spite of the hype, only one house was built in all of 1921. This was due to the fact that the area lay directly in the flood way of Cave Creek, which in 1921, inundated the entire western end of the city and put two feet of muddy water on the first floor of the state capitol just a mile to the south. No lives were lost, but property damages were severe and estimated to have exceeded the million-dollar mark.