The Washington herald., 1907-12-29

The development of Washington along
real estate and building lines has made
steady and substantial progress during the
year now coming 10 a close. AT no time
has there been anything like a boom in
values or sales. but il may be said that.
even through the financial furry of the
closing months of the year. real estate
values have held firm. and the business Of
the brokers has gone forward without any
marked Interruptions on account of the
ughtness of money. a few deals here
and there. possibly. have been called off
for that cause. but many deals that prom
Use well do not materialize, even in flush
times. and the sticking point is quite as
often disagreement on the amount OF cash
TO be paid and difficulty in securing loans
on the property at one time as another
All through the year the sale of resi-
oence property has gone forward without
break in all parts Of the District Many
lots have been purchased by prospective
homeseekers on which houses viii be
erected during the coming year. This is
particularly true in the suburbs and in
the new subdivisions placed upon the mar
ket recently. The citys growth in all di-
marvellous. when all the circumstances
are taken into account.
Invites Outside Capital.
Washington real estate continues to be
its chief business asset II invites the
investment Of outside capital. as is shown
day after day in the record Of transfers
of property. New buildings are going up
on every hand. including houses and
business property. in which outside cap
ital is invested The Capital is the mecca
OF all good Americans. as much in the
desire for residence here as in that of
coming TO the city to look at its great
buildings, its wide well-kept streets. and
its beautiful parks, circles, and statues.
BY all it is confessed TO be the most at
tractive of American cities. and the num-
Der Of persons coming here To live is not
diminishing as time goes on, vast as has
been the sale of property to this class
Of inhabitants in the past
The growth of the city also in other
directions is very marked The business
and industry Of the city is increasing.
the population charging every day. This
makes necessary constant building Of
new homes 10 house the people. and the
Tor sale and rental is not equal to the
demand
apartments Still Popular.
The building of apartment houses.
which the pessimistic long ago shouted
was Overdone, has gone on and on. and
to-day they are among the most valuable
properties in the city. During the past
year many Of them have been sold at
high figures as investments. the major
ity Of them being purchased by COM
panies or BY single investors who sought
good returns for their money. The apart
ment houses are constantly full of ten
ants. provided they are located In de-
sirable neighbOrhOods. easily accessible
by the cars and well managed The few
families who grow tired of the crowded
conditions, and seek more room in the pri-
Vate house are Immediately replaced by
others waiting to find homes in these
great houses heated and lighted and
fitted with elevators and other conven-
iencies, all for the monthly rental.
During the year 1907 there has been
greater activity in the Improvement Of
business properties than in any like period
for many years. Along Pennsylvania
avenue. + street, Ninth street Seventh
street, and other thoroughfares old build
inSs have been changed By the score.
New fronts have been added. new STYLE
windows have been supplied. interiors
have been made over to satisfy the in
creasing demands of business Many
firms have sought new quarters and prob
aoly the most significant movement of
the year has been the rehabilitation of
10
be impossible even TO guess the amount
of money invested in these improvements.
but II could be counted only in millions
of dollars.
business Section EnIarEes.
Mere significant still is the extension OF
the business section itself into side
streets. The region bounded by Sixth
street, Fifteenth street. PENNSYLVANIA
avenue. New York and Massachusetts
avenues IS rapidly losing its resident
character and being metamorphosed into
a business locality. Many old residences
specially on the corners. have been made
over into combined stores and dwellings.
where the proprietor lives above and
manages his business below. In some
instances the rooms above are apart
ments, with the stores below. Probably
the business places in the region named
have increased % per cent during the year
now closing.
This movement has only begun and OBJ
servation, with little intimate knowledge
OF the facts in particular cases shows
concTusively that the large place Of busi-
ness is not having even an appreciable
effect upon the number enterprise. or
success Of the small dealer He is -four
tshing In Washington as never before.
Individual growth i'm many of these small
places has been little short Of a marvel
within a few years. and businesses. that
five years back were begun in a small
way, in old and ram-shackle Quarters
are now in remOdeied stores with MANY
Of the convenienCes and much OF the
glitter and sparkle of the great depart
ment stores. There is probably no great
er evidence Of the solid prosperity OF the
city to be found than the rapid multipli-
cation and the uniform success of these
small dealers, manufacturers, and agents
in supplies Of various kinds.
One Case n Type of Others.
One illustration of this type Of business
has been impressed upon observers who
know the facts, in peculiar manner. this
year. An Italian fruit vender was located |
on Seventh street near Florida avenue. |
His shop was IN an old building. which |
was destroyd by fire in the early part of |
the year. While the premises were re-
building the Italian. who did not wish IN
leave the locality and lose the trade he
had so patiently built up. erected a shan,y
on small piece of vacant ground across
the street, where he kept his business dur
ing the summer months This sban+1-