The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1903-05-24
Real Estate and Building
Market Suffers Because Of
Continued High Temporal
ture-Week's Review
A New Business Center VIII
Soon Be Established, With
Union Station as Nucleus.
News of the Builders.

The warm weather of the past week
seems to have barred any unusual ac-
tivity in local real estate and building
circles, no significant transaction hay-
Ing been reported. This season Of the
year, however. is not the time when new
deals are consummated. dealers and
builders having for the most part com
pleted their winters work and announc-
ed their plans for the ensuing summer.
This is true today Buildings of all
character and descriptions may be seen
in any part OF the city in every degree
of completion; workmen employed in the
building trades have more jobs ahead If
them than they can complete for many
months 10 come, and the wage scale is
steadily inclining toward higher figures
Building material is at premium. and
every indication points toward an active
and encouraging condition of the local
market
But the market is dull, notwithstand-
ing. The enterprises now under way were
planned and announced during the win
ter months. There is scarce q dealer or
builder in Washington but has some big
deal up his sleeve" ana who is not con
fdent that within week he will com
plete transaction that VIII more than
treble the real estate values in the Dis
trict of Columbia In this interim, news
is scarce.
Will Follow Union Station
It is Interesting to contemplate the
marked change that viii be subsequent
to the erection of the new Union Station
Much has been said about the increas-
ing values surrounding the site Of the
proposed passenger terminal, and plans
of a new mammoth hotel fronting the
plaza have been made matter of pub
lie record, but as 10 the changes that
are inevitable in the vicinity of the two
present stations, there has been no COM
ment.
Land values adjacent to the two pres
ent terminals need not necessarily de-
preciate, but there is bound to be a
general exodus of ticket Offices, ex-
press companies, brokers' and others
who are dependent particularly upon
the railroads for their prosperity Penn
thoroughfare and there is no reason 10
believe that the Offices vacated in the
vicinity OF Sixth Street Will go begging
for tenants. The property owners near
the Baltimore and Ohio station welcome
the change and look for the ultimate
building up, on the site of the old sta
ton, of desirable residential district.
Were an immense modern apartment
house or hotel erected on the north
east corner of New Jersey Avenue and
C Street, and the lumber yard removed
from the square immedia teIy south. land
values would increase and the section
would become credit TO the Capitol
which is less than 400 yards away
Improvement Near the Capitol.
But whether the values adjacent to
the two stations decrease or increase
the change is sure to be strange to the
eyes Of old Washington residents, who
during many years have become accus-
toned 10 the din and CRIME that is in
scparable 10 q railroad center. Another
of the city's wheels within a wheel
will be started with the new Union Sta
ton as its axis. business viii receive q
valued impetus. and a step in the city's
progress will have been taken.
The Improvement Of square $50. at the
southeast corner of the Capitol grounds.
with the proposed House offices, costing
81, 600, GOO and the pending removal Of
the Baltimore and Ohio station. calls
attention to the many additional i'm
provements which are not only possible.
but Imperative. If the clty's beauty is
TO become real. Within a stones throw
of the Capitol building. and almost be
meath the shadow OF its dome. are near
" 100000 square feet Of property which
is either unimproyed. OF else improved
with buildings and shacks that are dis
grace 10 the city and 10 the nation.
Square Should Be Razed.
For many years citizens who have had
the welfare of Washington at heart
have sought TO have some better dfspo-
sition made OF the square just at the
foot OF Capitol Hill. and bounded by
Pennsylvania Avenue. First Second. and
B Streets northwest. The square is poor
ly improved, and IS bisected by an alley
which has long been source OF worry
TO the local police.
~ all events. the square could be i'm
proved upon
VIII Remove Offices.
The United Reality Company has sold
for !. J. Baker. 10 L. d. Snead. a house
and lot in Brentwood. For s. s. Yoder,
executor of the estate OF Nancy D. Bish-
op, TWO lots on sherman Street north
west. to Moore & Hin.
The Offices OF this company are TO
be removed from 5lI Eleventh Street
10 Cl2 Fourteenth Street. r. r. Chatter
ton has accepted the poslti N of assIs-
tant TO tie general manager, :. :. 70
der.
Architect A Goenuer is preparing
plans for an apartment house SO by 100
feet. three stories high. TO be built in
Park Street, near Fourteenth Street, by
AIonzo 0. Bliss. The first floor VIII BE-
fitted up for store. purposes. and thu
upper floors viii contain six apartments
of Ave rooms each,
The front OF the building viii be iigh.