The San Francisco call., 1909-10-18
SHARON ESTATE
TO ERECT MANY
NEW BUILDINGS
Program Involves Expenditure
of Several Million Dollars
Near Palace Hotel
Structures Will Be Provided for
Needs of Tenants in Busi=
ness District

As II TO give q final touch TO the as
surence Of san Francisco's rehabilita-
tton and business stability which the
Portola festival celebrates, the Sharon
estate has announced through its
agents. A. J. Rich & Co, that it is pre-
pared TO eNpend large sums or money in
the building Of class a structures to
meet the needs Of tenants in the heart
Of the business districts. The buildings
are 10 be located in the vicinity of the
Palace hotel property Of the Sharon es-
tate, in New Montgomery street. directly
opposite the Palace hotel; at the north
west corner Of New Montgomery and
Mission streets, at the northeast and
northwest corners of New Montgomery
and Howard streets and on a 100 vara
lot at the corner Of Fourth and Bryant
streets
The announcement Of the estate fol-
lows on the heels of the edict Of the
board Of public works that all tempo
rary wooden buildings within the fire
limits must be removed by May, 1910.
The Sharon estate Will be prepared to
house those tenants moving from the
temporary buildings and furnish per
manent esta blishments.
PLANS INVOLVE MILLIONS
The extensive plans of the Sharons
call for the outlay OF several million
dollars. and the property which is TO be
built UP with class A structures ar
ranged FOR tenants is as advanta geously
located as any in the city
William c Ralston. the banker, was
A believer in the early days that New
Ment sOmery street would be the bank
ing center of San Francisco, and ii was
largely on his advice that Senator
sharon purchased property in New
Montgomery street, in addition to the
sites Of the Palace hotel. which occu-
pied an entire block, fronting Market
and New Montgomery streets and the
Grand hotel site.
SITES FOR WAREHOUSES;
1he Grand hotel. it viii be remem-
heced, drew revenue from stores on the
ErOund foor and occupied one of the
best corners IN san Francisco. The
Grand and Palace hotels were operated
Jointly for some years before 1906, ana
averef connected by a bridge across New
Montgomery street.
The construction Of the new Palace
hotel and other conditions that have
grown out Of the great cOnfiagration
have restored its old time importance
as business sites 10 the New Montgom-
cry street property. and the conversion
Of what was largely a residence dis
trict south of Market street into eli
eibIe sites for wholesale stores and
warehouses have brought the vacant
lots in New Montgomery street between
Market and Howard under the lime
light.
IMPROVEMENTS PLANNED
The announcement made. by A. J.
Rich & Co. follows;
The Sharon estate company has con-
cluded to improve all holdings OF the
company south of Market street by
erecting buildings TO suit tenants. This
announcement refers TO all their prop
erty in New Montgomery street, imme-
diately opposite the Palace hotel; to
the northwest corner Of New Montgom-
cry and Mission streets; the northeast
and northwest corners of New Mont
gomery and Howard streets and a 100
Nara lot at the corner of Fourth and
Bryant streets. This will notify ten
ants for large buildings. who intend to
remove on account Of the disposal of
the shacks that were erected imme-
diately after the fire, that they can now
make arrangements for the construc-
tion Of any class building they desire
for their purpose