The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1904-05-08
Huge Apartment House
and Hotel in Pros
peCI.
NEW ALEXANDRIA BANK
Handsome Dwelling Planned
for Thomas M.
Gale.

Real estate was somewhat more &C
tive last week. albeit the recorded
transactions We're, as a rule. of ~
great magnitude or Importance BY
long odds the most interesting deal
which came TO public notice was the
purchase Of the Baltimore Sun Build
ing. in F Street. by the American Ma
tional Bank
Since this transaction was noticed in
this column it has been ascertained that
the price to be paid by the bank for
the property is S215.000. This is not TO
be accepted as a criterion for the value
OF Street real estate in general. fer
the Sun Building has been sold at an
unusually low figure
As matter of fact, the cost of con
struction is % per cent in excess of the
selling price. thus leaving the grounI
entirely unaccOunted for in the deal
The American National Bank has Sc
cured a great bargain. 1t is understood
that the directors of the bank intend
tc oxpend in the neighborhOod Of 5000
IN the alterations to be undertaken 10
pu. the building in shape for it's uses,
the most important change TO be made
being the arrangement of the first and
second floors for the banking room,
which. as already stated. will be ore
Ct the largest and most elegant in Il e
city.
Tho movement in suburban real es
tate continues at an even pace. One %
the peculiarly gratifying features Of
deals Of this class is the fact that pun
chases appear TO be fairly well dis
tributed over all sections OF the Dis
fr-fTf
tie northwest and west IN judicious
investments
1t is noticed, moreover. that many of
these investments are not made solely
for speculative purposes, but for imme-
date Improvement Thus even the
casual observer cannot fail to notice
that while building in the suburbs has
not Yet attained the proportions of
boom, enough of it is going forward to
gIkss assurance of the steady growth o.
thkse parts OF the District for res
6cHtial uses and the resultant increase
OF values in the not far distant future
Naval Surgical Building.
one of the possibilities of suburban de-
velopment in the not distant future Is
the acquisition by the Government OF
g fifty-acre tract Of land in the vicinity
z
the purpose Of establishing thereon n
naval surgical college, probably in con-
nection with the naval hospital
The matter has been pending before
Congress for some time. and it had been
hoped that favorable decision would be
reached during the session just ended.
If the Government buys this tract. it
will be the second important purchase Of
ton. the other being the ground for the
bureau Of standards, the buildings for
which are now in the course Of terec-
ton.
Colorado Heights Sales.
Samuel c. Hill, with E. Lodge Hill. SOP
+ Street northwest who are the exclu-
sive agents for Colorado Heights, re-
ports that extensive improvements in
that subdivision are progressing rapidly.
The stone foundation for the large
house now standing in the center Of the
tract is being rapidly constructed. The
house viii then be put IN first class con-
dition. corresponding with all the other
improvements in this subdivision, and
will be for sale. IL viii be located on
two lots on Thirty-eighth Street, each 80
by 1l5 feet. and running 10 a ten-foot
lots in Colorado Heights are numerous.
and sales are progressing satisfactorily.
Mr.. Hill also reports that there is
much activity in the northeast section,
and that they have in the past week
secured for sale a choice tract Of twenty
acres on Queens Chapel Road. adjoining
East Brookland. with water. sewers. and
gas. and within two squares Of the
= Hva
twenty minutes ride 10 Seventh and G
Streets, for one fare. The ground is
beautifully located. and would be a good
investment for subdivision. the price
being reasonable and terms easy.
Other Subdivisions.
Another subdivision in the northwest
inst put on the market is the old Click
estate. lying in the corner Of Bright
wood Avenue and Harvard Street. The
lots adioin Columbia Heights, and are
only from ten TO fifteen minutes ride
10 the departments and the business
center Of the city. Harvard Street is
graded though the property, and the
subdivision is provided with sewers and
gas. and water is 10 be installed at
once. There would seem 20 be here
good chance for investment in low
priced property.
The RiVeTdale Improvement Company
Is reporting gratifying success in the
sale Of the properties IN the thriving lit
tie town in which II is operating. There
has been a good deal Of inquiry for land
and houses there. and considering the
fact that Riverdale is within less than
thirty minutes ride from the center Of
the city. and property is offered there
at reasonable figures. IL is not surpris-
ing that sales are made with constant
~ increasing rapidity.
Stupendous Undertaking.
washington is getting to be the city OF
great enterprises. One OF the most
comprehensive yet planned is the cree
ton by the Washington-Londo In
vestment Company, whose Offices are
ia the Colorado Building. Of "A complies,
OF large houses, combining the features
Of hotel and apartment house and in
connection with them the establish