The Joel Lane home is the oldest house in Raleigh. It was built in 1760 and has been owned by the Colonial Dames since 1927. It is now in the process of restoration for the first time in 200 years at a total cost of $98,000, one fourth of which was covered by two appropriations from the N.C. Legislature. Lane is called Raleigh's founding father because he sold 1,000 acres of land to the State for the building of North Carolina's first permanent capital in 1792. Additionally, the Lane house served as the location for the North Carolina General Assembly's meeting in 1781.