Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-07-23

The recent purchase of the property OF
George Washington University at the
southeast corner of 18th and H streets is
likely to mark stage of some 1mpor-
lance in the development of locality
that is looked upon as one of the leading
commercial centers of the city. 1t is not
known what the plans are for the future
of this property, and there seems to be
an impression that S. w. Woodward. who
bought it from the university, has not
fully decided himself what he will do
with it. 1t is known that he has offered
to lease the buildings for the present to
the university, SO that the educational
work can go on as usual in the accus-
toned place.
1t is expected, however, that this offer
will not be accepted and that the uni
versity will find other quarters. In such
an event a property that Is perhaps, all
city. will be unoccupied and therefore I'M
productive. 1t is in consequence con-
cluded that an early effort will be made
to utilize it in some way. IS 1t STANDS
at present, and in fact In the recent
transaction. this property was regarded
as unimproved, as the buildings have no
value, it is thought, for other than their
present uses.
May Build New Hotel.
The general idea, in the absence OF
anything definite from the new owner
relative to future plans, is that an en-
tirely new building is to be erected, and
the general superstition, taking into con-
sideration the current situation and the
character of the locality, Is that in all
probability such a structure will be
planned for hotel purposes.
While the per foot price is not the
highest that has been paid for ground in
the vicinity. still the aggregate is the
largest ever paid by individuals for a
single building site in this city. The
university received $55O.OOO net for the
property, and as it contains 2O.21s square
feet, the per foot price was about $27.5O.
The latter is not a high figure for prop
erty on that basis, for four years ago
the Union Trust company paid ST per
square foot for the land on the opposite
corner, at the southwest corner of 18th
and III streets. on which its Office has
been erected. But the area of the ground
which was acquired was only a little
more than 1900 square feet.
On the same block, but farther to the
south, an inside property fronting fifty
feet and comprising about 1900 square
feet was sold in 1907 for $26 per square
foot, while still farther south the old
Citizens Bank building, adjoining the
Riggs House on the south, and containing
1867 square feet, with frontage Of fifty
feet. brought in 1909 $3.50 per square
foot.
At $40 Square Foot.
In the same year as the above transac-
ton was recorded large property at
the southwest corner of 14th and G
streets changed hands. The aggregate
ran into large figures. as it was $4,000.
but while the frontage was a wide one,
the total area was comparatively small,
as 1t contained but $3.50 square feet. The
per foot price ran up to about $40
A larger piece Of property than that
of the George Washington University was
the old st. Matthews Church property,
which is just across the street, at the
northeast corner of 18th and H streets,
containing nearly 1000 more square feet,
and while the exact consideration in the
sale made in 1908 is not given, yet it is
thought the price was between $1S and
$40 per square foot On that basis, the
aggregate price paid would be between
four hundred and four hundred and fifty
thousand dollars.
The figures quoted have been for the
most part for corner properties having
large areas. and Of course only a small
portion of the transactions in recent years
in that general locality have been men,
toned 1t has been a period of change