The Providence news. (Providence [R.I.]) 1891-1906, 1892-01-06
D0INGS In REAL ESTATE.
The Growth of Providence Both Sub
urban and Central.
RAPID TRANSIT AND PARKS.
Down Town buildings and tho Sale Of
the City Hotel Washington
Park and the Bartlett Plat-City I'm
provements.

There was a time, and that not long
ago, in the history of Providence when
he who set out to write weekly review
Of real estate transactions would have
had very little to work upon, when the
city lay nearly dormant and stagnant.
Such fortunately is not now the case. A
city which puts up something like $3, ,O0O,-
600 worth of buildings in year-of
course the actual value can never be ac-
curately known-and which is called
upon 10 lay water mains and grade and
curb streets with such rapidity as ours
can hardly be called stagnant.
Central real estate, with such struc-
lures as those of the j. b. Barnaby Com
pany, of B. III. Gladding & Co., and of
the Rhode Island Hospital Trust Com
pany, going mp on Westminster street,
with the projected removal of the old
railway station and the promising out
look for new post Office, cannot be
called inactive. The Central Real Es-
tate Company, organized less than a year
ago, is able TO advertise that its pur-
chases have appreciated in value consid-
erably in that brief period.
Weybosset street, and its continuation,
Broad, have Jagged behind Westminster
in the matter of new buildings, but that
prices are we'll maintained is proved by
the recent sale of the City Hotel prop
erty at 800, 900, which is called a fair
price. This street suffers somewhat
from the presence of SO many ungainly
sheds and novels on the narrow side
streets near by.
More spectacular than the operations
in central real estate are those which
are being conducted on the outskirts of
the city in every direction. North and
south and east the hammer and saw are
busy. Southwest the activity is less as
the city is already built up pretty solidly
to the Johnston line. Out Wanskuck
way the prospect of better connection
with the central portion of the city has
caused some activity in real estate which
will doubtless be increased by and by.
The greatest activity Is TO be noted
along the line of the Broad street cleo
trio cars-a point which ought TO be
noted by those who oppose such inn
provements. The News has already
commented on the extraordinary guam
tity and generally good character of the
building being done along this line just
beyond the cemetery. Further ont, the
extraordinary activity at Washington
Park and the Bartlett plat show the
value at once of good breezy location
near salt water, and of good transit facil-
tiles. IL is the same lesson that was
taught by the cable road upon the east
side, and by the consequent wonderful
developm ent of that region.
There is another moral in the growth
out Pawtuxet way-and that is the effect
of Roger Williams Park and the pro-
posed extension in increasing the value
of real estate. 1t would pay the city as
an investment to establish the complete
system of parks which Prof. Augustus
Jones recen tly advocated before the Ad-
vance Club, to surround the city with a
ring of par ks like Chicago, connected by
well-paved boulevards. So great would
be the increase in taxable values that
the city would get a good rate of inter-
est on i Is investment.
Rent ais are naturally inactive at this
seaso N, but it may be said in general
that there is brisk demand for stores
and residences, especially for small sim
gle houses of moderate cost. Building
has not been overdone.