The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-03-29
EXTENSIVE BUILDING
OPERATIONS ARE
LOOKED FOR
Sales of Business and Resi-
dence Property Continue
Heavier Than for Many
Years Past : Available
Rented Quarters Cannot
Supply the Demand.

While nothing large in the way or
! real estate deals has been recorded
! during the past week, there is still
steady and ever growing demand for
! property Of every description, and the
| local dealers are of the opinion that
| the boom which was inaugurated at
the first of the year was but fore
runner of a much larger business to
be transacted during the spring and
| summer. The sales during the week
closing yesterday were small for the
| most part, but they were all of the
! legitimate kind and go to show that
there is a continued activity in resi-
dence property in the outlying dis
trictS.
1t is difficult, If not impossible for
resident of st. Paul whose time is spent
| in the downtown district or interior
| residence sections of the city to ap-
preciate at all adequately the growth
and development which is transpiring
! in the suburban districts. In fact, there
is no way in which one can gain
more impressive idea of the rapid
growth Of the city than to make an oc-.
casional visit to one or more OF the
numerous suburbs which are radily
becoming centers of a thriving popula-
ton
The reason why the realty deals
have not shown up so favorably during
the past week as they have in the pre-
panies have not recorded any deals
for some days past. 1t is believed that
both the Northern Pacific and the 500
roads, which have been buying heavily
for some time, have acquired about all
of the property which can be secured
by direct purchase, and hereafter the
real estate deals will be confined to
sales made to people who desire the
ground for building purposes.
Outlook Is Bright.
Every real estate dealer in the city
reports better business and a brighter
outlook than has been known for years,
and the demand for residence property
which commenced at the beginning of
the year is growing larger every day.
One of the reasons advanced for this
condition is the fact that hundreds of
people are moving to st. Paul from
other places. The rental agents notice
this, because they are not in a position
to furnish the newcomers with houses.
Hundreds of applications are made
for houses every day, and when in
formed that there are no houses to rent,
many OF the applicants who have mon
ey look for an opportunity to buy out
right. Even many of these people are
doomed to disappointment, for there
are from three to five purchasers for
every desirable piece of property Of
fered for sale. The increased demand
has, of course, resulted in higher prices,
but the prices being paid are not con-
s1dered too high, although the advance
is in many instances 25 per cent when
compared with what the same prop
erty could be purchased for three or
four years ago.
The building permits for the past
week show that more than $4,000 has
been expended for the addition to and
erection of frame buildings alone. The
schools in all sections of the city are
oVercrowded, and it has been necessary
for the school board to rent anneXes7 in
the different parts Of the city.
Jobbers Need New BUILDINGS.
In the down. town section the crowd
ed condition, especially among the
wholesale houses, has prevailed for
some time, and, While many of them
have arranged for larger and more
commodtous quarters, many of the job
| blng houses are yet unprovided for.
| Several of these will be obliged to Sc
cure more room before the close of the
! present season, and the activity in
business property is expected to con-
| tfnue indefinitely. There is not va
cant lot in the downtown district
which could not be sold on a days no
tlce for much larger sum than it
would have brought at any time during
| the past ten years
Il think there will be more money
expended in the building line in st.
Paul this year than in Minneapolis"
said A. v Williams, secretary of the
Builders Exchange. THE activity in
st. Paul will certainly be greater than
| that of last year, and there would be
| nothing to complain of if it reached
| the mark set in 1902. Nearly $1,000
| 600 were expended in building in st.
Paul last year, and there is reason to
| believe that the amount will reach
| $10,0O0,000 before the end of 1908. There
are great many big deals under con-
| sideration at the present time and it
is fair to believe that most of them will
! go through"
Owing to the uncertainty of the
weather, actual work has been COM
menced on but few of the proposed
buildings, but with the advent of April
operations will be commenced in ear
nest in all section of the city.
| The outlook is viewed from such an
optimistic standpoint by the various
! trades and labor unions that there is
| already talk among many of them of
| seeking higher scales of wages. The
prediction is made that this will be
the best year for labor in general that
st. Paul has seen for many years.