Arizona weekly citizen. [volume] (Tucson, Ariz) 1880-1901, 1894-02-10
THAT $4,000 HOTEL
TucsOn's Opportunity is Now at
Hand.
Another Block with an Opera House
Promised by B. NJ. Jacobs, Con-
tingent on the Hotel.

Tucson is in the way of good many
improvements. The opportunity is now
open for carrying them through to profit
and renown of the city. Ii can be
done. Whether it will is now to be seen.
The CITIZEN limited few days ago of
plan for $4,000 hotel, with business
places on the first fioer, the second and
third floors TO be used as strictly first
class hotel OF fifty rooms. The enter
prise is now fully under way and pro-
crossing swimmingly.
The first thing and hardest is to in
terest Tucson capital. That obtained
sufficient money is in view on the out
side to complete such block. This
done another block VIII go up along
side, as good as the first, with q bank
and stores beneath and modern, up
todate opera house on the second floor,
and Offices and lodge rooms on the
third. A bond has already been taken
on third lot, opposite the two men,
toned, where third business building
Will 60 up.
The site of the proposed hotel is at
the corner of Stone avenue and Camp
street, opposite the Episcopal church.
The lot is 20 125 feet. The hotel en-
trance will be at the corner and the
three business places between there and
Congress street.
THE HOTEL PROPOSITION.
The business proposition for the hotel
is as follows:
The obtaining of Tucson capital to
the extent of S25,OJO. This sounds big,
but Tucson can do it. While the city
has no big capitalists it has a good
many who have long stocking they
can draw on when it will come back at
| the rate of j per cent month. One
prominent Tucsonite said:
81 will not see the proposition fall
through for the want of 5000 to S10,-
O00."
Another said he would rather be one
of six or eight TO put up 5000 each
than one of macy to put in $1,000 each.
Such men are here and can give Tue
son her needed hotel.
A dozen or perhaps H score of leading
Tucsonltes have been seen on the matter
All a e agreed that The proposition Will
pay from the outs=t. Some groaded a
little of hard times now, but times are
! not regarded as so bad as they we're.
This was instanced at the Building &
Loan assoc alton meeting last night
| Money for improvements was 10 demand
beyond anything during this great and
glorious reign Of Grover Cleveland.
Fully $1,000 was wanted to improve
| with, and premiums were S45 a share.
Since June last premiums have not gone
above the minimum-S35 per share. 1t
was generally believed the enterprise
| be gotten through.
The $4,000 secured, work can be
nsttuted and gotten we'll along. a
building worth $4,000 is wanted. The
work under way to that extent tn
| bslance can be obtained from outs de
capital. This outside money is in sight,
and obt4ipable.-
The building could be finished with
Building & Lean funds, but interest
there is l per cent month or there
abouts, and it could be secured outside
| for from D or per cent per anumm.
| AitCAOl EOOu Dudu las UdIlc al
appIcat on for the rental Of the property.
The hotel proper should rent for $3.50 a
month, and the three business places
under it should being $50 a NINTH
more. This is S400 month or / per
cent month or the total outlay
certainly a good investment. Tenants
should easily be found for the stores
The Rebel dry goods house. on Meyer
street, and the Fleishman drug store
are among the tenants in view. They
are both now in quarters not creditable
to their respective businesses. Others,
similarly placed, are in view. There is
no doubt of filling the block.
The block adjoining mentioned is
promised by B. Nj. Jacobs. He states
positively that in the event of the first
block being built he will erect one
adjoining, to the corner of Congress
street and Stone avenue. This will
front seventy feet on Congress street and
one hundred and twenty-five on Stone
avenue. The buildings now there will
be replaced with block which will
have bank at the corner and other
business places adjoining. The second
floor will have an opera house.