Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-05-14
POSSESSION OBTAINED
TRANSFER OF VALUABLE REALTY
TO WOODWARD 4 LOTHROP.
Large Increase I'm Boston House Pro-
posed to Cost Nearly Half
Million.

| A deed is to be placed on record in a
day two by which the property known
as St. Vincent's Orphan Asylum. on G
| street between 10th and 18th streets. will
| be transferred to Woodward & Lothrop
/ the proprietors of the Boston House. An
| agreement for the purchase of this prop
| erty was made in June. 1879. and one
! OF the conditions was that actual pos
| session would not be given until the d.
| rectors of the asylum could provide
| a new home for the institution. This has
| been done and the orphan. asylum is now
in fine new building that has been erect
ed on the Edgewood property. north Of
| lexington. 1t was also stipulated that the
! price agreed upon for the property, which
| reached the large aggregate Of $4,000,
could be paid in fnstallments. Since then
the agent of the asylum directors, Mr.. Z.
II. Ridenour of the r. o. Hoffman real
estate office. received in cash half of the
purchase price, and upon the recording Of
the deed the entire amount will be paid.
Nearly n Square.
This new addition to the already large
realty holdings of this firm in the square
bounded by +, G, 10th and 18th streets,
where their business establishment Is To-
Gated places them in control of practically
the entire square. The present building oc-
cupies 10000 square feet and when the new
part is erected covering the asylum prop
erty, the space each floor will be in
creased by 10000 square feet, thus giving
grand total of $4,000 square feet on each OF
the six stories of the old part and the seven
and perhaps eight stories Of the new por-
ton of this extensive emporium of trade.
This purchase is notable account Of
the new area secured in the heart of the
business center of the city. and In the price
paid making the transaction one of great
Importance in the real estate market In this
city. Having frontage of 200 feet on q
/ 1xLhf 20 hoth md
streets, the consideration for the 10000
square feet was $3.50 per square foot.
The acquisition Of this property marks
only the beginning of an expenditure which
is contemplated by Messrs. Woodward 4
I.othrop for they propose the Improvement
of the additional ground by the erection of
a structure which will be a part of the
present extensive building. Next week the
work is to be begun of removing the old
asylum building. and when that is accom-
plished the foundations will be laid Owing
to the difference in the grade Of the G.
street and F street fronts 1t will be neceS-
sary to provide a Sub-baSement, that
the foundations will extend some distance
below the surface. Upon them will rise the
superstructure, the details of which have
not as Yet been decided upon. 1t will be
seven stories i'll height-probably eight.
Expenditure of Half a Million.
The money needed for this great under
taking will come from local financial insti-
tutiOnS as the Washington Loan and Trust
Company and the American Security and
Trust Company have assisted In advancing
the funds. 1t is estimated that the eXpen-
diture will represent about half million
of dollars. and when the work is completed
the entire establishment, merely from the
standpoint of size will be one of the great
mercantile omporiums in this country.
1t has grown with the growth of the
city. and in this sense the Boston Store
typifies in substantial fashion the mate
rial development of the city during the
past twenty years. The fact that the new
establishment of Woodward & Lothrop will
rank with the great commercial concerns
OF this country Is striking demonstration
OF the Importance well as magnitude of
the business interests of the nations cap
Il