Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1903-03-21
[. P. Kelsey Says 1000 New Homes
Should be Erected This Year.
SAME ESTIMATE FOR NEXT.
Many West side sales on Account OF
Railroad Activity = where New
Residences Are being Built

In a talk this morning on the local
real estate situation, l.. 2. Kelsey, the
veteran real estate dealer remarked
that one feature was that local invest
ors had In the recent past loaded up
with properties expecting to unload
presently at a profit. But for some
reason the expectation had not been
realized, and investors are now walt
Ing, Micawber like, for something to
turn up. Ii Is now about time, how
ever, for outside investors to appear
and take an active interestand a leading
hand In local real estate development
and improvement. Mr.. Kelsey referred
to west side property as of especial
promise, largely on account OF the rail-
road developments in progress there
The Short Line Is buying heavily OF
real estate in the west and northwest
part of town, and the chances are that
this Is part Of an unpublished plan ell
Their for the accommodation Of the Los
Angeles and Short Line roads INDICATION
OF terminal facilities for both corpora
tons, or In preparation for the same
class Of facilities for the Short Line
and Southern Pacific; and perhaps for
the Joint accommodation Of all three
roads. 1t is apparent to the observer,
said Mr.. Kelsey, that the Southern
Pacific will make this its freight ter
mina at least, as this city Is destined
TO become a great distributing point
This latter fact the railroad people are
realizing, and preparations for the
same are making. The d. & Il. G.. has
all the land It needs, and is not ac-
quiring any more, Mr.. Kelsey holds
that all this railroad acquisition is
bound to help west side properties.
Residence properties in the SOUTH
eastern part of town are proving espec-
tally desirable, and people are moving
down that way. The east bench Is also
rapidly peopeing up, and in fact as
fast as the street railway extends It's
lines, the surrounding neighborh0od
will build up. There has been, Is and
will for some time be great demand
for office quarters. In fact there is a
fine opportunity for an eight story Of
flee building on one Of our Main street
corners. A great office building at the
Smith Drug store corner says Mr..
Kelsey, would prove a very profitable
investment But the trouble here Is
that investors and property owners
don't see IT, and are afraid TO make the
venture, although to dead certainty
the Investment would prove profitable.
The result Is as we have seen, following
this disastrous Atlas block fire, a grand
scramble for places, even though they
be no larger than enough to hold a
desk, and Office rentals arr on the rapid
rise, Resirence rentals are pretty stiff
and VIII hardly go higher.
When asked as to what he thought
would be a number OF houses to go
up in the city the current year Mr..
Kelsey replied that there should be
1000 houses erected this year for the
proper accommodation Of the increas-
ing demand, and that 1900 houses in
two years would about iii the bill AL
lowing five people TO house, this
would make Salt Lakes Increase in
population for that time 10000. The
great majority Of buildings will be Of
modest pretentions. Mr. Kelsey looked
to see a steady demand for building
properties for some years at least. and
considered that while the past winter
had been rather dull. there would be a
Frightening up early In the spring.