The Overseas Highway is a highway carrying U.S. Route 1 (US 1) through the Florida Keys. Large parts of it were built on the former right-of-way of the Overseas Railroad, the Key West Extension of the Florida East Coast Railway. Completed in 1912, the Overseas Railroad was heavily damaged and partially destroyed in the Labor Day Hurricane of 1935. The Florida East Coast Railway was financially unable to rebuild the destroyed sections, so the roadbed and remaining bridges were sold to the state of Florida for $640,000.