The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-01-21
Six-Story Structure to
Be Erected at Fifth
and Franklin.
PAY MRS. SHIELDS
$4,000 0 FOR 81 T E
Urgent Demand by Physicians.
Dentists and Specialists Re
suits in Organization of
Syndicate to Provide Ade-
quatc Quarters-Fewcr
Street Signs Hereafter.

Announcement was made yesterday
morning that the residence of Mrs
Charles Shields. at the southeast corn
er OF Fifth and Franklin Streets, had
been sold to a syndicate, which would
begin the erection on June of a six.
story structure, to be known as a pro.
fcsslonal building.
The syndicate paid $4,000 net for
the property, which stands. By the
way. on the highest point in Rich
inond. The new building Will be pi;In-
ned especially for physicians, spceial-
lists, dentists and others. the idea being
TO give them central but separate
quarters. Tic sale was made by j. ID.
Carncal & Son. nc transfer being made
TO w. Greed Davis a member of the
syndicate. Mr. Davis is in New York.
although was learned yesterday f-o:,
man who Is financially Interested that
The deal has been under way for some
time. and that 1t Is suggested by :he
repeated demands from professional
men for building near the centre cf
;he city, where they would be afforded
better facilities than they can secure
hcrc, there and yondcr.
Form Holding Company.
There were many reports in circula-
ton when I. became known that Mrs.
Shields had sold that the site would
be used for a big store. although thesc
rumors were set al rest by q represen-
tative of the syndicate.
"For months real estate mon have
been urged To erect a professional
building" said n dealer last Night
land this request has been SO regular
that holding company was formed
49,. H.. IL
Ing to secure a charter. After we took
the matter In hand the arst thing to
consider was the question OF site. and
none appeared aGitc so satisfactory as
that at Fifth and Franklin. wiiicii :s
In a goad srction, easily reached. 'fhe
price paid Mrs. Shields Us regarded as
n fair valuation. especially when IL Is
remembered that fine brick house
,ii4st be torn down.
','rhe structure. which will be six
stories high. Will provide every facil-
,ty and every convenience for profcs-
sional men. II is not too far removed
from the hospitals, is one and Two
blocks from the street car lines. and Is
ont of what you might call the bust
ness district. With handsome bnild-
ing of that character at the point OF
highest elevation in the city. II Is nat
ural to suppose that property nearby
will increase and not dcteriorate IN
value
Fewer Street signs.
Possession will he given the s5ndi-
cate on June I. at which time con-
struction will begin. Plans VIII be
drawn in the meanwhile. so that no
time may be lost in completing the
structure. Already nearly score OF
sprofessional tenants" have applied FOR
or signed for apartments.
Real estate men. like citizens Eener-
ally, say that prospective purchasers
of homes and visitors are Invariably
struck by the large humber or pro
fessional signs in Grace and Franklin
Streets. stran gers often ask II this
isn't an unhealthy town, though as
matter OF fact they are always re-
minded that the death rate here is
lower than that OF any other city with
the same population. The point is
that the doctors, the dentists and the
special,sts had to buy or rent offices
In the heart of the residential district
when they would naturally prefer 70
have central quartersa or course. II
does not mean that all of them VIII
20 into the professional building. but
the number which will go there VIII
largely reduce the number OF street
signs which give visitors an erroneous
Impression as to local conditions.