The San Francisco call., 1908-03-21
FIFTY MILLIONS IN
NEW BUILDINGS
Construction Work Being Rap
idly Pressed in Business and
Residence Sections of City
Coming of Fleet Makes Business
for Realty Men on the
Water Fr01t

which already have been commenced.
h'lt ground is being broken daily for
class 4 buildings such as Mrs Frank
q sullivan intends TO erect al Market
sld stockton streets. Activity is par
'JicllsrlT noticeable. too in the resi-
deal Of building being. done in the
western addition.
A wei posted real estate man. COM
rnenting upon The situation, observed
that al the lowest estsrate s50.o00.0o0
worth Of buildings were under way
snd THAI in comparatively ? restricted
area
Among the few buildings he men
tsoned were the Palace hotel. the bank
building where stood the Grand hotel
The bank building on the site OF the
cid Masonic temple RosenstOck build
ing on the north side Of Geary west
of Kearny. the Whitney building on
the south SIDE ~ Gesry between Grant
avenue and stockton the Clavburgh
buildilE. Head building. Pheian build
ing. White House. the sullivan build
ing al Market and Stockton. Mechan-
-iCs bank. west bank Thompson build
ing and The Orpheum- All these Struc-
t-res are well built. costing a greaL
deal Of money. and are merely fur
nished as few examples CT what is
heing done toward the rehabilitation
of san Francisco
MATERIAL Is CHEAPER
10 account has been taken OF the
numerous buildings springing up in
residence part OF town. for The dis
trict out % the IRE limits has acquired
new energ3 and several houses have
been started recently Pine street par
ticulariy is busy and Is being well
built up east OF Larkin with board
ing and apartment houses and fats.
The north side Of Bush also is being
built up with The same class Of strUe-
tures.
II is said thar material for building
has never been cheaper during the
past 10 wears than now. and this un-
doUbre6ly is an inducement 10 press
forward the work Of consrrucIsor- A
contractor asserted that the White
House a. present rates could be built
for 100000 less than when the plans
were drawn. II is the cheapness OF
building material. coupled with the
fact that wages are not as high as they
were q short time ago that has start
ed rhe building OF homes This again
Las. caused revival in the real estate
market. and real estate men report q
brisk movement il the sale OF lots for
homes.
some time ago we thought we were
doing well when we made a sale OF
tor TO show how conditions have
Improved we sold i've lots last Tues
day
Dan O'Czllaghsn bore out this state
ment-
There has been an improved in
6uiry during the last few DAYS. espe-
ciaIlv for residence lots in the west
ern addition and Ashbury heights dis
riots ne said. Low prices in build
.ng material and favorable conditions
ln the labor market are the reasons
FOR many proceeding 10 build, hence
desirable lots are sought"
RICHMOND DRAWS BUYERS
The Richmond district has attracted
the attention Of the investor lately
During the last few months several
of the largest realty deals IN the city
have been made in the Richmond dis
trict" said :. r saul. AS an evidence
OF the popularity Of the district ] have
only 10 say that the population OF this
section has increased IN the last three
years from 5000 10 $4,000. LAST week
rhe choicest block IN Richmond. for-
raerly owned by St Mary's hospital,
was decided 70 George HummeL The
property fronts the Golden Gate park
extension boulevard 10 the Preside
end Is bounded by Clement street Point
Lobos. Fourteenth and Fifteenth ave
nuts LAA-A-E- 6+AE6A- -N7 F%~~~N ~--N
lots On the market"
A well known real estate man has
found means Of reviving the market
and making sales His plan is TO take
bonds al z few points above the pres
.ent quotation for property and has
found that his method works admir-
ably.
who are holding bonds seem TO be
- - and The 1ou-er fhnu are
quoted the more eager they are 70 dis
pose OF them They viii not sell be-
cause they would lose money by the
transaction. but gladly exchange them
for land at a valuation slightly in eX-
cess OF their quotations. Practically
no money changes hands The man
who has the bonds makes them over
10 the land owner, who is willing 70
take them at q higher valuation than
the market quotation and keep them
lii they raise again in value. 1t is
simply a case Of q man having conf
dence IN the bonds of railroads or other
properties. and the men who have
backed their opinions will reap the
benefit
The new land owner. in order to
make his investment profitable. has 10
improve, and this he does by building
fats 70 get an income out OF his ven
ture-
Il IS said that great deal OF build
ing viii be done soon on the north
side OF Bush and Pine streets. as the
rapidity with which the new buildings
are taken is an incentive 70 build
others
OUT IN THE MISSION
Building is going steadily ahead in
the Mission .. Il Umbsen & Co. re-
port several sales In the Crocker tract
and say that many houses have been
started
A transaction this week which has
created much interest was the pur-
chase by one OF the trustees OF the
Methodist Episcopal church of q lot at
Hermann and Valencia streets. It is
believed that a church viii be built on
the property. which is another indica-
.tion OF the growth OF this part OF the
city.
D. conn & CO. say that the prospects
Of the Mission have never been
brighter Mission street is being
bituminized from Twentieth street 10
Army. making II a fine drive 10 the
county line. which is the main outlet
Of San Francesca
Cranston. Belvel & Dwyer report a I
large sale Of property IN the Mission !