Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-03-14
REAL ESTATE. GOSSIP
Property Interests of the Late
Senator Proctor.
FUTURE OF A LOCALITY
Interest in the Direction of Business
Expansion.
CHANGES IN A GROWING CITY
Current Transactions in a Market
That Is Beginning to Expert
ence Spring Revival.
CHANGES IN A GROWING CITY

The late Senator Proctor was the owner
of considerable real estate in this city.
He had the reputation of being a sue
cessful man of affairs and was reputed
TO have accumulated large fortune and
to have succeeded in developing and car
rying on an extensive business. On that
account what he did with his money
how lie invested it's perhaps of more
interest than would be the case with
man who had not shown the business
sagacity which he possessed.
What money he put in real property in
this city he confined to one locality. His
principal holdings are to be found within
block of each other and, in fact, they
comprise pieces of property on adjoining
squares. He acquired large frontage
on the south side of K street extending
east from near 18th street toward 14th
street. On portion he built an apart
ment house where he resided the latter
part of his life.
Buying as an Investment.
Across the street, and taking in the
northeast corner OF X street and Yer
mon, avenue. is unimproved property
which the senator owned. and adjoining
on the east are one or two houses which
announced to be his purpose to improve
this corner by the erection of a large
building which would be suitable for
business purposes and also available as
an apartment house.
Quite recently the senator added to his
holdings In this locality by buying the
corner lot at l and 18th streets, or Far
ragut square. The improvements are
modest IN character, and it was supposed
his object was to secure a site for a
large structure. However, whatever his
plans. there was not time to carry them
out. and. in fact, at the date of this
iatest purchase it was said from him
that he bought the property because he
looked on 1t as a good investment.
As to the Future.
IL could be inferred from the amount of
money Senator Proctor invested in the
section in question that he regarded it as
at least having a promising future for
whatever the outlook for the present may
be there is no careful investor who does
not think of what may happen to effect
values In the years to come
There is probably no phase of realty
especially as an investment that Is the
subject of more careful thought than its
future. This is especially the case with
buyers in this city, for here as Is not
so 10 the same extent in any other city
in this country buyers and investors
are largely synonymous. There is prob
aoiy more attention given just now to
this matter than for several years owing
TO the rapid growth and development of
the city. Within the past few years a
marked expansion has taken place in the
area OF the business section of the city
1t has gone north from + street which
has become the backbone of the PRINCIPAL
business section. and for time went as
far up 18th street as New York avenue
and then extended along the latter thor
ouShfare TO the east.
Movement Next in Order.
Since then another extension has taken
place and the property along 1ath street
up to III street and along the latter street
has been utilized for business uses. This
general change has been attributed TO two
principal causes. one the increase in the
population and the other to the shifting
in The location of the steam railroad sta
ton. Whatever the cause or causes.
there is no question to the effect and
now what has become a matter of absorb
ing interest is what is to be the next
movement In property, what will be its
direction and it's general course.
In the opinion of some observers OF the
market this question has already been
answered In part at least by what has oc-
CURED on 14th street above ii street and
more especially the buying and the prices
paid i'm the block along 18th street facing
Franklin Park. The buildings used for so
many years as residences are being
changed into business houses and the
figures paid for the property in the recent
transactions are something more than
merely suggestive of current values
farther south on the same street
Regarded as Busy Center.
At the same time changes. have been
going on in the property lying between F
street and New York avenue. good deal
OF which has come into use for business
purposes and somewhat tardily that par