Biola University, the private Christian college located along this street, was born in 1908 as the Bible Institute of Los Angeles. Its president was Lyman Stewart (1840-1923), millionaire cofounder of the Union Oil Company of California. Initially located at 260-264 S. Main Street in DTLA, the college moved to larger digs at 550 S. Hope Street in 1913. The term “Biola” – an acronym of the school’s original name – was in use by 1915. The land for the La Mirada campus was purchased and Biola Avenue named by 1955, four years before the school actually opened here and became an accredited university.