The Washington times., 1894-06-03
Big REAL ESTATE DEAL
John F. Waggaman Secures Options on
Valuable Suburban Property.
BOSTON CAPITAL INTERESTED
The Sum Of SIS 900, 900 or Moro Involved in
the neutrality-suspicious. to bs
Added That Will Cause Large Expendi-
lures Of Money to All Classes Of Labor.

John F. Waggaman has nearly completed
his large deal in suburban real estate in the
extreme northwest suburban part of the Dis
trict. This transaction involves all that part
of the section spoken of laying between Mas
sachusetts avenue extended, the Woodley
road, the "Zoo" Park and the Tennallytown
road.
There are 400 acres of ground included In
the proposed transfer, and the estimated cost
of the same will not fall short of s2 Oo0, 900. Mr..
waggaman Is now in Boston for the purpose
of completing the arrangements necessary to
close the big deal. 1t is known that all the
owners of property in the territory mentioned
have given options on their holdings, and
furthermore that the money needed to make
the purchase has been raised by syndicate
of Boston capitalists.
1t is one of the largest projects ever under
taken by Washington real estate dealer.
Mr.. Waggaman about Il year and a half ago
planned this idea with the view of transform
ing all that garden spot OF the District into
conveniently arranged building lots. and in
such Il manner that they would readily take
in the market.
Mr.. John W. Thompson, who owns the
Sreller part OF tne lunu III Ludt secliOu, eu-
tered heartily into the matter after 1t was
made known to him, as did also the Hon.
Francis G. Newlands, another land owner.
These well-known people Immediately gave
their aid in carrying out the plans of the pro-
lnoter. and after every assurance had been
found satisfactory the remaining parties to
the deal came In.
What is stated only forms part OF the great
movement that MIR. Waggaman has in view.
There remains yet for consideration the ex-
tensive improvements to be made on the
property just secured. II is known that an
outlay of from $4,000, 900 to $4,000, 900 is q
part also of the proposed improvements
Entire lands will be laid out in streets,
avenues, and alleys in strict conformity with
the plan of street extension as mapped out by
the District Commissioners. and will also in
yolve the laying OF the necessary watermains,
Gasmains, sewers, and the Introduction OF
electric lights. 1t will take several months to
carry out the details connected with the
great undertaking. When the work of i'm
provements shall be under way there will be
employment for hundreds of men, and the
large sums of money paid them will help
along the business interests OF the city.
Mr. Waggaman will not tell what his plans
are but his friends, who are giving him every
possible encouragement, say that what he has
in mind is stupendous. Mr.. Waggaman was
called to Boston by a telegram, which simply
stated that the money needed by him was
collected and the signature to the dispatch
was that of one of the best known men in
New England.
There is every assurance that the deal will
be closed very soon and that Mr.. Waggaman
will lose no time in pushing along his plans.
He is now being congratulated by his many
friends,who wish him success with his under
taking. Whether or not building operations
will form part of the improvements cannot
be learned, but it is presumed that such will
be feature. 1t is said bv n friend OF Mr.
Waggaman that he really wishes to make
new city, as it were, of the purchased prop
erty, as he realizes that in possessing that sec
tion he has obtained a choice part OF Washing
ton for future residences. 1t is conceded by
real estate men that Mr. Waggaman has dip
lomatically got hold of q very valuable pos
session which WILL in time, pay handsome
return to those who were bold enough to in
vest their money.