The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-03-20
SALT LAKE GROWS
At AMAZING RATE
New Additions Placed on Mar
ket and Homes Springing
Up as if by Magic.
LOANS EASY TO NEGOTIATE
PROPERTY OWNERS AccoMMo-
DATED WITHOUT DIFFICULTY.

Subdivisions and additions occupied
the center of the stage OF real estate
ssctivity during the past week. While
there was considerable interest shown
IN residence property close in, it was
not to the degree which characterized
the interest in subdivisions and addi-
stons. II the plating OF tracts con-
tinues for the next two or three years
, IKE &c hes for the past year, 1t is evil
z dent that Murray will soon be a part
OF Salt Lake Thousands of lots are
nov being offered to the homeseeking
and the investing public, and judging
from thu demand the city is growing
at very rapid rate.
Within the past week announcement
was made of the opening, or the con
templated opening, of two subdivisions
and one addition. A new company has
been organized, headed by Anderson &
Cummings and the Hubbard Investment
company. which recently purchased
eighty-seven acres of ground just
south of the Fort Douglas military res
ervation. This tract is near the big
tract OF the Hubbard Investment COM
pany and consists OF TAT lots. With
the original cost of the property and
the improvements to be made the COM
pany will spend about 100000. The
new subdivision is known as Crescent
Park. The firm OF Ashton & Jenkins
as also out with a new subdivision.
Forty-fjve acres OF ground have been
secured near Thirteenth East and Tenth
South streets, at a cost OF about $4,000,
and work will be started Immediately
IN Improvement work. Streets will be
graded. cement curbs. cutters and side
walks laid and the tract put In shape
preparatory to the erection OF modern
homes. The uew subdivision to be put
on the market win be offered by Dowse
q Morris and II E. Monhein. 1t is
located just south of Laursihurst near
Twenty-third East and Twelfth South
streets, and consists of fifty acres of
land. situated high and dry, command
Ing an excellent view Of the valley.
Improvements Going On.
In addition to these tracts. there are
number OF others purchased last year,
ing to the public. Improvement work
is going on in perhaps two score sub
divisions and addition tracts. over
million dollars Will be spent in the va
rious large tracts that have been cut
up into building lots.
The general tone OF the market is
extremely healthy. report the various
dealers. 1t is known that a number of
large deals are on for the sale OF bust
ness property. the contamination of
several of which means the erection of
handsome buildings. Within the next
thirty days Third South street, between
Main and West Temple streets, will be
sraced with a new three-story struc-
ture, Definite plans have not been an
nounced, but that a building will be
erected is an assured fact.
The order issued by the Walker es-
tate to the tenants occupying the store
buildings on what is known as the
Hamburger corner to move by the LIST
OF April IS taken by those conversant
work OF razing these one-story build
ings preparatory to the erection of the
handsome eight-story structure will be
commenced right away.
cidedly healthy condition, real estate
men point out the fact that the city is
growing rapidly IN popuIation. and as
values are dependent to a great extent
on this increase there IS no danger of
any slump in realty values. They say
that there is q direct connection be-
tween the increase in population and
the increase In real estate values.
Loans Easy to Get.
The Salt Lake OF twenty years ago
did not commend itself to people with
money as q good place In which to
make loans. In fact twenty years ago
1T would have been difficult to have
lsecuysd a loan OF almost any amount
on ocal property. No money could be
OBJ aimed at less than per cent a
IN nth.
Al the present time, Salt Lake real es-
e tie Is considered a good basis for loans.
1, here is no trouble IN getting from 40 to
10 Per cent OF the present value OF fairly
= eli or well improved property in Salt
IL lie at the present time. This is de-
clio, lily an improvement over conditions of
even ten years ago. when 25 per cent OF
the TTent value Of real estate was all
that Q Nd be got upon It.
Taste. money is entering the local field
more tn ever before. Capitalists have
become nvinced that Salt Lake realty
possesses substantial and ever-increas-
Ing Yalue, I'D II is not difficult to secure
loans on pi perty, especially IN the bust
ness district Vt is generally conceded that
as the popult ton increases. rentals will be
higher and III assurance Of tenants much
more stable. vt the same time, larger
iperce ntages o. Nvalue may be borrowed
and the intert rates are likely 70 be
lower.
During the pa week the building move
rnent all over ne city Ia Is been given
quite an impetus Work on the big struc-
lures, such as e Utah hotel. the New
house hotel, the earns building. the DAILY
building, is pros essing at a satisfactory
rate. Contractor are availing themselves
of the unusually good open weather and
are crowding We to the limit. The raz-
ing OF the old II is hotel building, corner
State and Thir South streets. Is being
pushed, with IN assurance by the Auer-
bachs that the ammoth structure which
IS to adorn this lite viii be built as soon
as possible
Everywhere rOughout the residence
district fine ms Arn homes are springing
up as ii by mar :. The great majority of
these homes substantially built and
contain all modern improvements.
There is no be er proof OF the fact that
the residents { Salt Lake are imbued