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Built in 1916 as an orphanage, the estate enjoyed its most glorious days as the home of Donald Rheem. During his residency, the property boasted a race track and stables, a golf course and the swimming pool complex. In 1973 the Moraga Park and Recreation Authority purchased nine acres of the property, and opened it to the community as a park. This jewel of Moraga became the property of the Town of Moraga in 1977.
Each year the Hacienda Foundation hosts the Cinco de Mayo fiesta at the Hacienda. All proceeds from the Cinco de Mayo fiesta and other Hacienda Foundation sponsored events are used to fund further improvements to the Hacienda.