Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-05-23
REAL ESTATE GOSSIP
Decrease This Year in the Cost
of Building.
MARKED GROWTH OF CITY
Present Situation as Regards Matter
of Street Extension.
BUSINESS SECTION PROPERTY
Progress Shown by the Current
Record of the Realty
Market.
MARKED GROWTH OF CITY
Present Situation as Regards Matter
of Street Extension.
BUSINESS SECTION PROPERTY
IN|

While the volume of building at the
present is not as great as this time last
year, there is much being done in that
line and the prospect is there may be an
increase before the season closes. 1t
may De reassur:ng to those who are
hesit atins about starting out in enter
prises of the character in question to
know that, according to the experience
of one man who is now carrying on
building operations of considerable mag"
nitude it is cheaper to build now than
II a year ago.
The reduction in cost. according to the
experience of the builder in question. is
due to a falling off both in the prices of
materials and of labor. While there has
been no formal reduction in the scale of
wages yet. the advanced prices paid TO
men in the various trades. due for the
mos. part to the scarcity of labor. are no
longer necessary 1t is also the expe-
cience of this man that on account OF the
abundance of the labor supply a better
days work is secured from the individual
mechanic. and that. of course. tends TO
cheaper such element in the cost OF
building.
The builder also says he finds there is
a falling off in the cost of building ma
terials of all kinds which varies from )
per cent TO - per cent. so that, in his
opinion the fiat reduction may be put
down at 10 per cent on the total cost OF
the building. In the case of extensive
operations and that is the character of
the bulk of the work now done, such.
lessening in the cost from both elements
is said to amount to a considerable saw
ing.
AS to Street Extensions.
II is regarded as interesting. if at the
same time somewhat disheartening to
those specially concerned. TO notice how
large a portion of the District measures
that failed to reach the final stages of
legislation al the present session of Con-
gress were what are known as street ex-
tension bills. Such measures aim to do
away with stub ends of streets and to
extend existing thoroughfares and to do
other things that are necessary In order
to make complete the existing system Of
highways
According 10 the present method of
carrying on such improvements. there Is
no cost TO the public in acquiring the
land. as it is supposed the benefits bal
ance the damages. After the land be-
comes part Of the highway system of
the District then. Of course, the cost of
any Improvement takes its place in the
annual budget. The number of such
changes asked for during the past few
years and the number still TO be done
point very clearly to the fact that the
population of the city is covering the en-
tire area OF the District 10 greater ex-
tent than ever before.
Due to Increase in Population.
The demand for more streets and con-
venience of access between different sec
tions is genuine need of a growing cen
ter and if one wanted tangible proof of
the growth of the city ii would not be
possible TO find it recorded in any one
place more graphically than just in this
very particular of the progress of street
extension.
The failure of these measures or at least
a good many of them. at the present ses-
sion means simply postponement of a
few months. and then they will be brought
to the attention of the District legislature
at the next session OF Congress In the
meantime these extensions will have to
wait. and that is what a good many
things of public nature in the District
are obliged TO do. In the meantime there
will be other improvements in progress.
so tina, al the close of the fiscal or the
calendar year il may he noted that sub
stantial progress has been made in the
material development of the city.
AS to Business Property.
Some men who are familiar with prop
cry conditions in this city OF the
op'nIo: there should be some change
nlaus in the character of the improve
mems in the business section. This is
founded the belief that such property
as Il now improved is not capa BILE OF
yie!:.:.e revenue that might be derived
g.. !: ~ -e-.- change was made, es-
= ~u- in the way OF handling Il.
The meaning of the criticism is that
this class OF realty holdings here is not
in large enough blocks and that the in
dividual ownership is too mucn divided.
The result OF this state of affairs, as
pointed out by such observers. is that it
is impossible TO proftably make use OF
more than two stories. whereas If the
buildings covered a greater width, the
upper portions might DE quite avail
apla as the first two floors.
A Merging Of Holdings.
The suggestion is made that a profit
able arrangement would be 70 unite sew
eral holdings under one management at
least. 20 as to have what would prac-