New-York tribune., 1908-12-27

>. ,,r,o .-ee ~ and improved with houses most
suitable for the purposes of those persons VINO M
ind employment within the factory territory, ~"
needs Of the borough in this respect became KNOWN
70 Robert E Simon, Henry Morgenthau. FREDERICK
Johnson and ]. Clarence Davies some years ago.
and since then those persons have peen iarsey
engaged in the work of enlightening many persons
of influence in the real estate market as to the I'M
rortanca NJ this subject This educational work
is apparently bearing fruit now, and most OF the
big real estate leaders are interested In one or
more ways in the transformatio OF this great
stretch of land known the Hunts Point district
of The Bronx
RECENT DEVELOPMENT WORK
Great changes have recently been wrought in
this district. It was few years ago an almost
unbroken tract of vacant land To-day the north
ery half of it is one Of the most artistic and one
the strongest OF the newer residential zones OF
The Bronx and the lower half of tbs section is 20
be made into the factory centre which this
thriving borough of the greater city Is so sorely
in need of, To bring about this change as quickly
possible many miles of modern piers are to he
built. and many blocks west of the piers are TO be
laid out in such way to make easier the work
of putting on them whatever manufacturing plancs
prospective buyers may design.
In this great work ex-Nayor Hugh 7. Grant. 9.
K. G. Billings and Anthony n. Brady are to be
prominent factors. Ex-Mayor Grant is large
owner of real estate Manhattan Island and in
The Bronx. Messrs. Billings and Brady have never
before been connected with any building move
ment in either borough.
syndicate. composed of Messrs Grant, Billings
and Brady, purchased last week from the East Bay
Land Company tract of about 107 at Hunts
Point The tract forms part of about eight hum
dred acres which bought by the East Bay
Land Company about 1890 as a suitable site for
the Worlds Fair which Chicago captured The
selling company is frequently referred to in real
estate circles Lord Alverstone's company. As
he is It's principal stockholder. The president Of
the company is Charles H. Patrick. According TO q
oLo1tf l1e
selling company made handsome profit on its in
vestnent. Jacob Leitner, who has effected many
sales recently in this section Of the borough, was
the broker in the transaction II is the intention
the purchasing syndicate to fill in a large part
of the tract. which is slightly under water. and
bulkhead the entire frontage Of four thousand
feet the East River
The East River at this point is very deep, and
therefore is possible for vessels of large draft
the piers there. short distance west Of
the shore line is the Hunts Point station of the
New York. New Haven & Hartford Railroad, and
at that place great freight terminal is being built
by the railroad. not only to meet the present de-
mands of the district. but also to be able to meet
the needs of the section ten years hence The
work making the Harlem branch of the New
Haven Railroad six-track road was begun over
year ago. and about the same time the plans
for changing the motive power of the road from
steam to electricity we're perfected. Plans were
also formulated several years ago for the building
of bridge over the East River to connect the Port
Morris section of The Bronx with the Astoria sec
ton of Long Island. That bridge is expected to be
ready for use in a few years although the work
Of building it Is yet to be begun. 1t will be the
only bridge used for freight purposes over the East
River It is to be built by New Haven and Penn
sylvania interests and will form the necessary link
in an alI-rail route from the New England States
TO all the other states of the Union.
FREIGHT FACILITIES IN DISTRICT.
In order TO ship freight from this factory zone
It will not be necessary to convey the freight by
vessel to the Jersey shore by rail TO some large
freight terminal another section. What is
known as long and short haul shipping will be
done from a point within the boundaries OF the