Savannah morning news. [volume] (Savannah) 1868-1887, 1886-10-20
BRISK TRADE IN REALTY.
NEW BUILDING ifAPIDLY FILL
ING VACANT LOIS.

NEW BUILDING ifAPIDLA Ell4l4-
ING VACANT LOIS.
what Real Estate Dealers and Coptrac-
tore ssy about It-New Buildings in
Progress and Projected-Wby Invest
ors Prefer Real Estate to Stocks-The
Building Outlook.
savannah is on BOOM remarked
well known real estate dealer yesterday
"How so?" asked a News reporter,
who overheard the remark.
swell, I've been handling real estate
here Tor a number of years and | have
never seen so strong and steady demand
for building lots as there is now, and tnat
Is the surest indication of a boom that
place can have.
There is also a strong demand
Tor medium price hoUses-those rang
ing from $1,000 to $1,000. In fact,
khis demand is far in excess OF the sup
ply. Real estate was never so popular as
AN investment as it is now, and its
strength is seen in the fact that there are
i1ewer available and purchasable lots on
Ehe market than was ever known
in the history OF the city.
Fewer desirable residences of
any class are being offered,
and there are more persons possessing
the means to purchase houses and lots
than was ever known before.
"Another reason WY real estate is
so popular as an investment IS be-
cause all desirable stocks and bonds
are above par, and at premium
varying from , per ceut. 10 % per
cent. None of them pay more than D
Tor per cent, and are therefore not so de-
Ssirable as an investment as formerly. On
the other hand il is poor real estate in
vestmeDt that does not pay per cent,
and there is always fair prospect Of an
enhancement in value of from 10 TO 80 per
cent.
''The increase in the amount of building
going on" the dealer went on to say, "is
due in a large measure to the loan and
building associations. A number of
people who have not sufficient amount
of ready money en- hand to buy a lot and
build house can do so through the and OF
these associations by paying monthly in-
stailments."
The contractors are all busy and have
work enough ahead to keep them em.
ployed the most OF the winter. Buildings
tOf every kind are going up all over tue
scity. Among the public buildings thar
lare now being built or have just been
completed are the Southern Bank build
ling, a magnificent structure of pressed
brick, trimmed with Alabama limestone.
This is now complete, all except the inside
1inishings, and Will cost the bank $50 900.
The Cotton Exchange, a handsome struc-
lure, being erected over the DraYtOn street
slip on the Bay, will cost about S35 600.
The new Jail on Habersham street and
Perry street lane will cost about 100000.
The Odd Fellows Hall, at Barnard ana
state streets. is very near complete, and
will be one OF the finest and most preten-
.tious buildings in the city. Its cost, in
,cluding the lot, Will be nearly $4,000.
Besides these there is the post office and
United States court building, tor which an
appropriation has been made, and work
on which will be commenced as soon as
site can be obtained.
Messrs. Melnhard Bros. & Co. will soon
commence work on a handsome four
story brick store adjoining Messrs. Alt
mayer & Co., on Broughton street This
will necessitate the tearing down OF the
old wooden buildings which have long
been an eye-sOTe, and Will greatly I'M
prove Savannah's most prominent busi-
uess thoroughfare.
Capt. John l.. Hammond is erecting
handsome three-story brick residence on
CASTOR street, between Bull and Whita-
ker, at n cost Of upwards OF $4,000.
Mr.. w. n. Holt has just about COM
pleted the erection of an elegant brick
residence on Whitaker street near Hall,
at a cost Of $4,000.
Mr.. Solomon Cohen has just finished q
row OF six tenement houses on Hall
street, for all which he found tenants as
soon as completed. MIR. Cohen will also
soon have completed two fine three-stOry
brick houses on Jones street. near TAFT
nall, tor which he has secured tenants
before they are finished.
In the southern portion of the city
dozens of neat frame houses are going up,
varying IN cost from $1,000 to $4,000. All
desirable lots south of Anderson street
end ready takers, though as yet build
ing in that part of the city has not act
'svely commenced. Altogether, there is a
Strong and healthy tone to the building
movement now in progress in the city,
and opportunities for fair investments in
real estate are quickly taken.