Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1910-03-22
HOW THE STATE WOULD PROFIT
BY The BLECKLEY PROPOSITION


expresses that the construction of civic center
Atlanta with the famous Beckley pan would
prove beneficial the state
We take pleasure in calling particular attention to Mr.
wright's first that he voices them
mnded but especially because he has thus opened for us
opportunity of showing wherein the state of Georgia well
the city will profit by the carrying out of this
splendid enterprise. And believe that when Mr. Wright
details the plan will become of its most
ardent supporters a representative of the state
parties directly concerned in this civic center
proposition They of property adjacent to the
railway city of Atlanta the railway companies and the
Georgia The of the property setev
the value holdings would be increased by millions
could be bridged and hid
beautiful plaza stretching from the Forsyth to the Wash
ington The city obviously interested because
the construction of such plaza would unite her
Sides would values abolish the n-
of smoke and and would exa her intellectually among
cities As the railroads. they would be relieved OF
problem grade crossings and would acquire terminals far
NOR modern than those in
Mr. Wright is in thorough acquescence until he reaches
There he begins dissent
Yet the state an equal preponderant good with
the railways and the city just what the
would acquire under the Bleckey plan this: would
come into possession twenty twenvestory
office building from which, in the of few years. 1t would
enjoy kngy revenues would become sole and perpetual
proposed plaza would vast improvements on its
rental of the state road and the ter
minas greatly increased And the state would acquire
advantages practically without the expenditure of
dollar.
A closer glance will show how this is
At the outset of communication Mr. Wright declares:
that s:: of S ssots s S 4a. % Gs
% P the ss smoke 1 WOULD GG city
dollars
Beckey plan the state would not be involved
any expenditure and would certainly not suffer the loss of
dollar proposed that the state should bear the cost of
bridging the railway tracks constructing the office build
ing on the present depot Such idea has
Al fboc
One of these plans may be set forth follows
syndicate of business made largely if not entirely
of interested property might undertake the building OF
the plaza office building This syndicate
might issue bonds portion the bonds be taken by citizens
at large portion by city and perhaps portion by the state
money thus secured the improvements would be made
The tracks would be bdged from For
syth Washington street The giant office building and rail-
way passenger combined would be built all the states
property held the state The be spent
of the states treasury The only thing the
would called upon would be franchise for term
of sufficient back by of from Tire Of
building the required for out the plan When
the syndicate recoupd for its then all the
unencumbred property of the state
Nor would it require than comparatively few years to
produce of office rent amount amply sufficient for
that 1t estimated that the total cost OF carrying out
the Becey plan would be between four and five million dollars
the maximum figure The shed of the present
Union depot space one hundred and ten by
and fifty feet building of twenty stories this
would furnish net floor of five hundred thousand
square feet Figured conservatively
general this would bring income of five
hundred thousand dollars annually Deduct
dred thousand annually fifty for operating
penses and there will remain yearly net of two hundred
and fifty dollars which would be aPporoned the
payment the bonds and also to the retirement of
from time time If the cost of the project should
million dollars would require only twenty years. the
quarter of million dollars net yearly to
And henceforh the state would not only
office buildings in all the and the
but would through all the decades to
a magnificent annual income.
better bargain would be impossible. Without spend
Georgia has the opportunity of acquiring
dollar Surely her interest in the Block
ley plan and vital that of the city the property
owners OF the railroads.
foregoing plan should be stated has been adopted
number being considered But illus
possibilities for profit offered the by the
civic center plan.
Wright suggests in his communication that the it.
office building the site of the Union depot
Bleckey plan the would acquire such building
outlay of We do not believe the legislature