Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-01-26
REAL ESTATE GOSSIP
The Use of the Blaine Site for Gov
eminent Purposes.
an AUCTIONEER'S POINT OF VIEW
The Depreciation Caused by Poor
Class of Buildings.
n n n W II
SOME IMPROV EMENTS


| posed new theater was finally settled when
| the lease for the Blaine property on Lafay-
cite Square was made. The old house has
been removed and those who have secured
| the control OF the property apparently
getting ready to begin active work the
proposed new theater building. In the
meantime an amendment is offered to the
appropriation bill in the Senate providing
| for the purchase Of this property by the
| government. If this amendment becomes
| law the projectors of the theater enter
| prise will be obliged to look elsewhere for
building site and the entire question
which has excited more or less interest in
real estate circles for a year Or SO past
will be revived
There are, no doubt other locations which
would be suitable for thealer purposes
| as the one selected. 1t is not probable that
| those who are interested in this undertake
ing will be deferred from going on with IT
simply because they may be compelled to
make change in the location. On the
other hand, If the government secures this
addition to its present holdings in that
vicinity, it may result in bringing to a
head the plan of erecting a large public
building there, which has been talked about
more or less for number of years past.
1t would not be bad idea, it is thought
If the scope Of the present amendment was
extended SO as to authorize the purchase
of additional ground in that square on both
sides of the property now owned by the
United States. In fact, as it seems de-
siraEle to have the public buildings in
rather close proximity, it is suggested shat
the government should secure at this time
the entire square. and erect there large
building of medium height which would
supply a portion of the accommoda lions
for the executive departments, which are
now greatly needed.
The Profit In Sight.
AS every one knows. property values are
strongly affected by the character of the
locality. There are many instances in this
city that will illustrate the truth of this
statement. 1t sometimes happens that
property on one square is worth twice as
much as that on the adjoining square.
With the single exception of the character
of the surroundings the properties on the
two squares are precisely similar. AS the
depressing conditions depend mainly
the character Of the improvements. it has
been suggested as good business enter
prise that one or more of such squares
shouldsbe purchased outright,and the exist
ing buildings entirely removed.
The property, it is thought, would then
appreciate in value and would be worth
fully as much the higher priced mold
ings in the same locality. Such enter
prise might require considerable capital,
but it is maintained that where the profits
can be plainly, there would be no
difficulty about obtaining the money.
Values Mt Auction.
One of the auctioneers of the city, who
is specially well posted on real estate vail
ues, in talking about the present condf-
ton Of the auction market for real estate.
said that he found that there was a ready
sale at good prices for all property In
what he called the central part of the
city. For properties outside of that sec
ton he said that good prices could also
be obtained, but they were not up to the
standard to which the speculative move
ment had forced values a year or two ago.
He said that CT course property that was
worth dollar a foot would sell for only
a dollar foot in spite of the fact that 1T had
been held at one time at two dollars q
foot. which was way above the market
price.
In the central section, he said, where
prices have not been Influenced so much
by the speculative movement, he found
that there was good demand at the mar
ket rates, and these rates could be OBJ
tanned at auction sale. In the case of
property lying outside of what might be
called the central portion of the city which
offered at auction the contrast be-
tween the speculative price at which the
property had been held and the price Of
fered obtained at auction led some to
suppose that property was being sacrificed.
On the contrary, he said that he believed
that fair values had been obtained at sales
recently held, and he thought that this fact
was a pretty good indication of the sta
bility of the market
A Promising Outlook.
Is a OeIlidIiU, although HOl d very
pronounced one, for building sites, and
there is considerable inquiry in this d.
rection by persons who contemplate having
homes of their own in this city. Real es-
tate dealers and others who are supposed
to be familiar with the situation predict
that the volume Of business will be con-
siderably increased at the opening of the
spring season. 1t is expected that quite
good deal Of building will be done. New
enterprises of some ma gnitude in the build
ing line are being talked about, and alto
gether it seems likely that the market Will
take on a good deal of its old-time activity.
The opportunities now offered for Secur-
ing desirable investments appreciated
no doubt the number would be much larger
if the character of the opportunities refer
red to was more generally realized.
Building Record.
The b ,ding inspectors record for the
past week ending yesterday, shows that
thirty-eight permits were taken out for tho
erection of new buildings, aggrcgating in
cost s136,sS5. This was divided among the
several sections of the city follows;
Northwest, one permit, $500; northeast,
twenty-four permits, $47, 900, and county,
thirteen permits, SSS.3S5.
Some improvements.
Mrs. Ella Tollifero has planned the erec-
ton of frame dwelling on Nicholas ave-
hue between Howard and Sumner avenues.
Anacostia. 1t will be two stories in height.
IL by 40 feet, and will be built BY Albert
Beers.
Charles B. Osborn is erecting a frame
dwelling and store at the corner Of Irving
road and Genesee place. Mt Pleasant 1t
viii be 80 by 80 feet, with pitch shingle
roof. W. A. Fry Is the architect and
builder.
David Courier is building two-story and
attic frame dwelling on Newark street,
Cleveland Park. 1t is TO be % by 30 feet,
with steep shngle roof Messrs. Peiz and
Carlyle are the architects, and McNulty
and Hunt the builders
Edward J. Harmon has obtained a permit
from the inspector OF buildings for the
erection of eight brick dwellings aI num-
bers 2O5 to 219 f street northeast They are
to be two stories In height, 1853 by % feet.
N T. Halter is the architect.
w. ]. Newton has planned the erection OF
ten brick dwellings at numbers 1888 TO 1901
Emerson street northeast. They viii be
two stories high, l6 by IS feet and viii be
built by G. Z. Newton. c. b. Z. Halter is
the architect.
D. B. Gottwalls is erecting six brick
dwellings at numbers GA to GA 9TH street
laa bxyA 1nat