St. Paul daily globe., 1888-05-13
ST.PAUL REAL ESTATE
Rain All the Week Intepfered
With the Sale Of
Realty.
By the Record, However. More
Changed Hands Than
Last Week.
Good Results Caused by the
Vote on the Broadway
Bridge.
Ar,nfhn1o Ir1CnY,o1non HnnaYlonU
Another Insurance Company
Coming to ST. Paul--Beau-
pre- Will Build.

10 tllc real estate agents OF uedleIS, dllC
consequently the transfers have not been
SO largely increased as was expected,
but there is a general feeling of solidity
and firmness in The market that is eX-
tremely satisfactory to the holders of
property. The vast amount of building
in progress i'm every part OF the city I'M
presses strangers very faVorably with
the outlook OF st. Paul. The Louisville
visitors who were driven about town on
Tuesday were equally surprised and
delighted at what they saw of the evil
demceS of prosperity. IN the st. Anthony
hill district. along Dayton avenue and
Summit avenue, and out on CrocuS hill,
everywhere on that elevated plateau
they saw degree of growth aud an
amount of building that filed them will:
great enthusiasm. They thought it all
very beautiful, and that homes Oh the
hill certainly must be very desirable.
The favorable action at the last elec
ton on the subject OF issuing bonds for
the construction OF the Broadway
bridge. and the prompt recognition of
the result by the common council, have
given great confidence to those inter-
ested in this new enterprise, that II Will
be speedily carried into execution. All
property east of Jackson and west OF
kittSOn street has been benefited i'll
value by the favorable action: at least
holders of property in all that part of
town have advanced prices and buyers
have manifested a disposition to take
hold. Both buyer and seller seem to
take the same view of the matter. Both
see what the Robert street bridge has
done for Robert street, and both argue
that the Broadway street bridge would
produce SIMILAR results on Broadway.
This benefit extends out Broadway
to its junction with Mississippi street,
and even to the crossing of the North
rrn Pacific railroad. 1t has for many
Years been claimed that Broadway on
his side of the river and State street in
West St. Paul, the two streets the pro-
proSed bridge will Immediately connect
with, were the outlets into large areas
Of country on both sides Of the river.
which would develop with wonderful
rapidity in ease the contemplated bridge
should be built.
Mississippi street, having been,graded
through the hill so as to give almost a
level roadway until after it crosses the
railroad tracks. thence extending far
out into the country, has also been re-
garded as one of the coming arteries of
trade in that part Of the city lying east
of Wabasha street. The fact is that
between Rice and Mississippi streets
there is no great thorOughfarc extend
ing beyond the bluffs and reaching into
the country districts. The formation OF
The earth east of Mississippi street is
such, being cut up by hills and ravines
with Phalen creek flowing through it,
that there is no natural highway open
ing northerly through that region, and
probably there never will be.
-
Those who favor the construction of
the bridge say it will at once divert Il
great deal of travel i'll that direction,
md will naturally influence the values
of property lying east of jackson street,
making it desirable for business OF man
ufactureS. From Broadway to kittSOn
street. south OF Seventh street, is con-
Siderable area, embracing sixteen ors sew
pnteen blocks, which have on them COM
paratively worthless improvements. 1t
has always been dead and has been held
Mt Il lower price than other property
situated west of Jackson street. This
part of the city is now recognized as the
coming district for business. and it only
needs the construction Of two OF three
leading wholesale houses in that local.
ity to quickly transform that district
into wholesale district, convenient to
railroads and the river, and very ac-
reSSible by easy grades to other parts OF
the city.
1t is said that one large wholesale
hrm has already seized the opportunity
and purchased 100 feet square on the
northeaSterly corner OF Fourth and
Broadway. and will erect thereon a
magnificent structure for the transac-
lion of the firms business. Other par
lies are negotiating for purchases of
large magnitude, and the probability is
that by another season building in that
locality will be very active. All these
considerations are claimed by the
friends of the proposed bridge as so
many strong arguments in favor of its
construction, and they point to them as
showing the wonderful influence the
new bridge will exert in changing the
face of a large area Of the city.
On the west side Of the river State
street, they say, has already been
graded to the bluff. in anticipation of
the landing of the bridge on that side,
and at an expense approXimating $780,
900, borne chiefly by the property OWL
ers along its line. This street can easily
be extended, after it reaches the top of
the bluff, far out into the country. pene-
trating South st. Paul, and making an
easy grade for the access of trade from
Dakota county. 1t is argued by the
friends of the bridge that It's construc-
ton will stimulate building in that di-
rection, and will ul imately result in
filling up Of the fiat east OF State street
by railroad corporations, which will use
it for depot and freight houses and for
track purposes. All these combined,
they claim, make very promising out
look for development resulting imme-
diately from the proposed construction
of the bridge.
In other parts of the city. notably east
Of Dayton'S buff, out on Margaret
street, Minnehaha street. and East Sev-
enth street, Reaney street. on Phalen
avenue, and even as far out as White
Bear Lake avenue, there are signs of
activity and progress such as that dis
trict has never witnessed before. SeV.
eral important sales have been made in
this district, which is benefited by the
grading now in rapid progress on East
Seventh street, and property has ad,
Vanced quite decidedly since last Feb
tuary. a number of cross streets that
run at right angles TO Seventh street are
TO be opened and graded during the
present season. This will render ac.
cessible property that's now very chear
for homes of the laboring men and me-
chanics, and hundreds of them are al
ready seeing the advantages they will
obtain by securing lots While they are
cheap, and building upon them small
lomeS.
~
Altogether the outlook for business
for the present year is very favorable
indeed, and the dealers generally are
feeling that it is going TO be an unusu