The Washington times., 1903-05-31
Seven-Story Structure, Ar
ehitecturally Tasteful and
Substantial, With Ample
Family Accommodations.
Condemnation Proceedings
in Square for House Of
flee Building : Varying
Value Near Union Station.

progress of a general nature in the
real estate and building circles, but
nothing unusual has developed. As was
the case a week ago, many important
deals are pending, but are not in such
shape as to be made public. Friday
the actual work of remodeIing the Cooke
mansion. in Georgetown, was begun. and
the deed OF sale for the property placed
on record. Some activity was reported
in the Congress Heights section, across
the Eastern Branch. A few sales were
made in the suburban properties, and
the announcement made that a new
electric car line is to be built to run
from Washington to Fairfax Court
House, Va, and possibly beyond. With
these exceptions-and they are trans
actions calculated TO force the local
market either one way or the other
the week has been unproductive.
The Home Savings Bank.
Property owners interested in the
vicinity of Massachusetts Avenue. K and
Seventh Streets northwest. are deriving
much comfort from the increasing values
resulting from the recent erection of the
handsome building of the Home Saw
ings Bank, at the intersection of those
three important thoroughfares The
structure is wholly a private enter
prise, and represents an expenditure of
approximately $120, 00O which would be
significant in any part of the city, and
is particularly so in that vicinity,
where improvement during the last few
years has not been all that could be
wished. The Home Savings Bank has
given values the needed impetus, and an
era of renewed prosperity is looked for.
The material used in the building is
Hummelstown brownstone for the first
story, surmounted to a height of seven
stories by steel. brick. and terra Gotta.
The structure is f1reproof with electric
elevator and light service
Whole Ground Floor for Bank.
The bank will occupy the entire lower
floor for its business, which has shown
remarkable Increase during the past
few years. The entire area covered will
be thrown into a single room, with a
twenty-foot ceiling. The building
fronts eighty feet on Massachusetts
Avenue. eighty feet on K Street. and
increases in depth from twenty-five feet
TO nearly fifty. It is "flat-iron" in
shape, with its point at Seventh Street
In interior fittings the banking house
Will be one of the most elaborate and
artistic in the city, the counter alone
costing $4,000. Green, highly polished
marble will be used in carrying out the
general decorative scheme, set off with
trimmings OF bronze and mahogany.
The foresight of the architect anC
builders is demonstrated in the six up
per stories. which have been built for
apartments, varying in size from four
&c five rooms. with bath. These have
eli been finished with oak and polished
woods. There are fifteen in all. The
location is. although Immediately ada
cent to one of the busiest commercial
streets in the city, still an ideal site
for the homes of those employed in the
vicinity. Both Massachusetts, Avenue
and K Street, between Sixth and Sew
enth Streets. are popular residence
streets. The building is directly oppo-
site Mount Vernon Square, the site of
the Carnegie Free Library. Appleton P
Clark. jr.. is the architect. and Samuel
J. Prescott & Co., are the builders.
Property in Square ego.
good deal of progress has been made
looking TO the early condemnation Of
the property included in square $50.
which has been selected as the site of
the new House Office building The titles
to the many lots into which the square
has been divided and subdivided, have
been examined. and the lines determined
to the satisfaction of both the Govern
meHt and the property owners. Notices
advising the owners and tenants of the
date when it viii be necessary to vacate
the property are now IN course of prep
aration, and will no doubt be issued
during the coming week Condemnation
proceedings will be begun in the local
courts as soon as the titles have been
recorded as perfected.
Owners of property in the vicinity of
the union station are experiencing
very uncertain and varying market
From the reports which come in from
the small owners, it is learned that
property in one particular square, i'm
proved in exactly the same manner, has
sold. In one instance, for $1.25 per
square foot. and in another for 1925.
A Lucky Son of Erin
One case in mind Is of peculiar in
terest, in showing how money is some
times made and lost in the real estate
business. The owners of two adjoining
lots within stones throw of the sta
tion site. and who happened to be two
hard working Irishmen, were approach
ed at the same time by two different
agents OF a certain purchasing company.
The property was worth the same price
per foot. TO the fraction of a cent, but
one parcel was purchased for SIPS per
foot, while the owner of the adjoining
lot held out for and received $3.25 per
foot. Thus are fortunes made and lost
stili II cannot be said that the man
receiving the smaller price was de-
frauded in any way. On the contrary,
he obtained much more for MS holdings
than he ever could have hoped for had
the union station site been selected in
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