The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1891-12-20
MOVEMENT OF REAL ESTATE
Killing of the Greenwood Rapid-Tran-
sit Project Blow to the South Side.
Suburban Plats and the BOard-A Good
Week-Meeting Called for Build
ing Association League.

1T was bad thing for this part OF tho
CITY," said gentleman who owns consld-
cradle real estate south OF the city. TO
Journal II porter. "whenthe Greenwood sub
urban street-railway scheme fell through.
Between this city and Greenwood there is ex-
cellent building territory which can be
bought at reasonable price. and had the
rapid-transit scheme gone through. 1t
would have made very desirable suburban
property. Until suburban trains or eiec-
trio cars, however, are run out that way
the territory will not be built up with q
rush. The lack of transit facilities has so
far prevented the plating of many new
additions south of the city. be-
lieve q suburban street-railway scheme
will be again agitated next sum-
mer. having for its termini In.
dianapolis and Greenwood. and If it is,
hope il will be successful. Of cour SO |
speak from an In terested stand point. but
believe it would be benefit to a largo
number of working people who could
thereby secure cheap homes close to their
work.
The action of the Board of Public Works.
the other day. in detecting fraud i'll the
matter of plats of additions to the
city, will have an important bearing
on the city's outlying territory,
and Is of considerable interest to
real estate agents and generally to the
owners of outlying property. When the
board was first organized 1t was deluged
with plats of additions and subdivisions
and at the very start adopted all iron. clad
rule not to approve any plat unless the
squares were uniform and the streets
and alleys contiguous. Not long
ago the board discovered that divers
INSCRIPTIONS real-estate Spectators had
been coming to the board to get their plats
approved and afterwards going to the
County Commissioners and having the
widths OF the streets and alleys changed.
The evil results. of such method can be
seen at a glance. The streets and alleys
would not be contiguous, and from an I'M
preiudiced point of view would present
badly snarled appearance. In order to set
tie the question, City Attorney Bailey was
asked for an opinion showing whether the
Board of Public Works or tho County Com
missOners have the right to approve plats.
and he held that the authority rests with
the former
"Had something not been done to curb
tins evil" said a gentleman largely inter
ested In real estate, 1.-THE beauty of our city
would soon have been etfectually marred
and In q few years it would have been almost
an impossibility to correct the mistake. /
am glad the Board of Public Works has
taken tho step it has"
The real-estate market last week was
somewhat better than usual, owing to one
or two rather large sales. The biggest
transfer of the week was the purchase of
portion of the Grand Opera house Block by
John L. Dickson tor $4,000. A rather large
sale of South Tennessee property was also
made. On the whole, however, the real
estate market was considered dull last
week. and will probably remain so until
after the holidays. There is pronounced
feeling among real-estate men that values
III the business portion or the city
will experience a big jump early next
spring The main thing that will
contribute to a realization of this expecta-
tiOn is the erection of so many su bstantial
structures in the business locality. On
Meridian street there is the Commercial
Climb building, on Ohio street the Maus
building and the new city library, on Ala
bama street the new Jail building and the
viaduct over Virginia avenue. Besides the
structures named there is ralk of the erec-
ton of others nextspring that will be the
nearest approach to sky scrap ers OF any,
thing yet built III tho city.
For years the remark of strangers has
been that SO many ram-shackle buildings
should be allowed to stand on East and
West Washington street. Since he was
appointed Building Inspector Fitchey has
condemned some of the worst of these
buildings, and the presumption is that they
will be replaced with more modern and
substantial structures. AT any rate, the
building era has struck Indianapolis and
wonders that will shake the Windy City
from center to circumference may be locke
for In the next few years.