In 1930 Pagliano bought the hotel, by now in a state of disrepair, and he, in turn, sold it to the state of California when the decision was made in 1953 to create El Pueblo de Los Angeles Historic Monument.
With seven of the thirteen buildings on Olvera Street either built or used for long periods by Italians and the Pico House rented or owned by them for more than half a century, it seems appropriate for the Italians of today to organize together to reclaim their heritage and to create a museum in the Italian Hall, since that building was specially constructed for Italian occupancy. Now the Historic Italian Hall Foundation is hard at work planning a museum.