The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1891-09-01
THE DEVELOPMENT COMPANY
To Begin the Sale of Lots
Thursday.
"A Party of Visitors and Real Estate Men
Shown Over the Grounds Yesterday,
A Review of What the Company Is
Doing and VIII do In That Locality.


of the Roanoke Development Company,
went on the tract yesterday as an es-
cort for q large party of real estate
men and visitors. The progress of
work on the various industrial plants
was inspected and the plating of ii q
property explained at length. Til
visit was for the purpose of preparing
the way for the sale of los which will
begin Thursday.
Roanoke avenue will be the main
center OF interest, as it runs through
the bottom lands and connects all prop
critics with the city and forms the thor
oughfare for points further west Than
tho Development tract. Tho electric
street railway will run along Roanoke
avenue and will swing back into Vir-
GINA avenue, forming the main loop
and key 20 the whole tract.
business lots on Roanoke avenue are
listed at 5000. Lots on side streets and
parallel streets arc placed at $500, and
lots on Bridge street, which intersects
Roanoke avenue, arc $500 lot. In the
first class residence section, through the
center of which Virginia avenue runs, a
building restriction of 81, 500 has been
imposed and lots 50xl5O arc llaced at
$500, with proportionato addit on in
price for additional depth Other lots
lying south Of Virginia avenue, 50x15O,
with bu .lding restriction Of 81 900 have
been placed at $500, and along the west
crn borders of the Tact Still another
class of lots, i0x130. are placed at $500
with only a $500 building restriction.
1t is needless to say that all parties
wero very much pleased with tho
tremendous energy which has been dis
played in developing this property al
bringing 1T into shape for the market.
A very successful sale is anticipated.
Within few days the following circu-
lar stating the purposes of the company
will be prepared and eX cnsively circu.
lated:
ROANOKE DEVELOPMENT COMPANY.
Within. the last nine years Roanoke
has grown from q settlement of 400 to
city of $4,000 inhabitants, and is
rapidly becoming one Of the mc3t i'm
Tortant industrial centres of the South.
| Iomcet this phenomenal grow tn, the
Roanoke Development Company has
secured the valuable lands lying di-
rcctly west of the city, and containing
not only the most desirable sites for
business and manufacturing purposes,
but also what is destined to be the most
attractive residence quarter in Roanoke.
The company has heen organized in
the most careful manner in order to
secure to investors that protec ton of
their interest so essential to n success
full enterprise, and it is the purpose OF
the management to SO discriminate in
granting land to industries as TO insure
having those which will most enhance
tho value of the property and thus
secure to the purchasers If lots 4 safo
and remunerativo investment. The
capital of the company is LOO, 900, of
which stock about $500, 600 is still in the
company's treasury, and 5000, 600 will be
available for the development of the
property.
The main bridge, now nearly COM
pletod. which will connect the property
with the corporate limits OF tho city, is
of steel, so feet in width and 635 feet
long, spanning the river at a height Of
IS feet, and affording the principal APP
proach to the property. Another bridge
of inon justcompleted connects tho prop
erty with the Riverview tract of Roa.
nokc, and other bridges will be built
later on as the requirements demand.
ried on under the advice and supervision
of competent engineers. Due consid-
Grafton is being given to tho eventual
introduction of a complete drainage sys-
tenn. and arrangements have been made
to furnish an efficient and adequate
water supply.
The proposed electric street railway
passes directly through the property,
connecting it with the Roanoke limos,
and will afford convenient and rapid
means Of transportation.
The company has been most liberal
in providing land for manufacturing
purposes, having reserved a tract cx-
tending for nearly mile and half
along both sides Of the Belt Line of the
Norfolk and Western railroad, all of
which is most admirably adapted for
industries Of nearly every kinds
The important establishments which
have already decided to locate here are
of such character as to fully justify
the organization of the company
1t is not proposed at once to develop
the entire property, and of the lots now
laid off, the general policy of the com
pany Will be TO retain one. half. in order
to participate in the great increase in
values which must surely come.
THE sEsT RESIDENCE QUARTER IN RoA-
N0KE.
On tha. part of its property which in.
cludes the highlands lying directly OPP
posite the West End and Mountain View
tracts, the Roanoke Development Com
pany has laid out on tho most liberal
scale wide streets and alleys with lots
ranging from $50 to 100 feet in depth
and from 6s to so feet in width.
This location has unQuestionable ad-
vantages as place of residence. 1t is