New-York tribune., 1909-04-04

tres north Q, Washington Square totared many
more nlili:ors, and Washington Heights and in
the Dyclknan sections many more millions were
spent II The construction Of apartment houses and
in rows Of modern dwelling houses The fact. too
must not DC overlooked that in this period OF years
2 newer central hotel zone was created the 11rDer
Fifth avenue residential district was enlarged by
rhe addition CT many big houses and great areas
ot land In The Bronx sparsey settled ten years ago
are now thici.ly populated fathouse districts at
fractiFe not Only 70 the speculator but TO the
shrewd investor.
REALTY CONDITIONS CHANGED.
IN days OF such activity as referred to the little
houeseeker must largely depend upon his own
financial resources those Of intimate friends to
erect a house for his own use. Now the times
have truly changed, and the demands of home
seekers elicit close attention, for the market is
entering upon long period Of homebuding and
the Development Of its vast subur ban resources
Without this network OF river tunnels and the
new bridges such an undertaking as the develop
rnent % suburban districts on the present scale
would not he seriously considered Regions remote
from rapid transit are not only costly investment
10 the big SPECTATORS, but like much waste
land TO the thousands Of little buyers The tun-
nels the bridges. the subway and the many
plans for improving transit facilities within the
METROPOLITAN zone have opened up larger regions
o. fne suburban tracts TO homesee6ers than ever
before in the history of the greater city.
since 1904 millions have been invested by wage
workers in purchasing land for future home sites.
Most Of those buyers have lived up to their con-
tracts and are now seeking the necessary money
With which 10 improve their properties Recogniz-
irr the extent Of tie demands among wage earners
for homes Of their own in the metropolitan area
many of the large development companies which a
few years ago purchased and sub-divided tracts OF
land near This city are planning 10 do all in their
mower TO help the cause Of these honeseekers.
THIS subject OF strengthening the hand Of the
ega Garner So thar lie can build for himself the
-bar7e Of an address recently delivered a dinner
~ Long Island real estate operators and investors
he'd IN this CITY
This home building movement would long ago
have l,esr Of great volume If better money chan
sis rad neen within the reach Of those who desired
- r.,i15 for themselves. For some years there has
a little money available for such work. and that
= nh, more building has been done by indi-
,55rals within the boundaries of the suburban dis
--i>s of the greater city Last year home building
on an extensive scale as now planned was not to
a Thought gE for the real estate market then
was still experiencing e readjustment Of its af-
fairs resulting from the setback II received owing
N -be financial depression OF 1907. OF course there
7ss considerable building last year. but II was
Fa,rns that If paid them better TO be active than
- he Idle But when it is necessary pay large |
torrsas for loans the financial burdens TO be car
-sa5 NJ bon7eseekers are not conducive 10 wide /
spread activity
ResIrv signs truly indicate. according TO many |
sv-e-+s that il viii a long time before con-
s-rvcti7n work on Manhattan Island surpasses the
record made IN 1856 and that from now until at
least 1912 the development Of the suburban areas
,fr1 h. one Of the leading features OF the local
market