The Washington times., 1910-02-19
Washington'S Business Dis
trict Has Promising Fu-
ture, Says L. D. Latimer.
BELIEVES INVESTORS
HAVE NO REGRETS
Phenomenal Changes Cited as IL
Illustrating Possibilities of
Next Decade.

washington is only beginning to
feel its business expansion. Ten years
hence we will see our business district
occupying all the main and cross
streets from Seventh TO Fifteenth. ami
north from Pennsylvania, avenue to
Massachusetts avenue. TEis is inevi-
table IN a city with a future as prom
Using as Washington"
With the eve OF a real estate opera
tor who foresees only the rosiest future
for Washington, Lee d. Latimer. OF
the F. II. Smith Company. so expresses
his frm belief in the promise Of the
Capitals development in the next dec
sde. The steady trend Of business 10
the northwest. the development OF
Seventh. Ninth, Eleventh. Twelfth.
Thirteenth, G streets. New York ave-
nue.. antd II street, the tearing down
and remodeling Of former dwellings 10
make way for modern stores and Of
fee buildings along these thorough
fares. all foreshadow a development far
beyond anything dreamed Of ten years
ago. ME Latimer says.
The Underlying Forces.
And he bases this belief not only on
the optimism that moves the real es-
tate operator and speculator TO see only
the brightest side, but on an under
standing OF the forces that lie behind
the present expansion that seems now
IN a fair way to put Washington in
the front rank OF greater American
cities.
Within the past fifteen months Mr.
I.aumer has acted as the sales agent
OF a dozen big business properties in
the downtown business district that
have changed hands for investment In
the case Of three Of these properties
they have changed ownership twice n
this time and each time at substan-
fial advance over the former price As
one who is alive TO the conditions lnal
ere operating for Washington develop
mant. he wishes no surer testimony
that this demand for good downtown
investment property is based on wise
and farsiEhted reasoning
Prices Advance Steadily.
For more than twenty years I have
been listening to talk about Washing
toms real estate being inflated says
Mr. Iatirner. yet all this time l have
witnessed a steady rise in the price OF
an desirable property and an increasing
demand for both stores and homes. And
what is more, there Is nothing IN sIenJ
10 indicate that there VIII be any Iail-
ing off either IN the value OF properly
or the expansion OF our business dis-
trict a.
desirable business places down town Is
the taking ever by the Federal Govern n
ment Of the properties on the south side
of Pennsylvania avenue from Fifteenth
street east. These merchants must be
supplied with other locations, and IN
several instances they have been com
PEELED 10 pay good prices for the places
they wanted.
Local Men Investing.
"NVEHe big sums Of Baltimore, Phila-
deiphia,l and New York money have
been involved in the purchase Of some OF
the downtown properties that recently
have changed hands, not a few local
business men have and are investing
their surplus capital iH the same way.
But there is stil more opportunity for
the investment OF local capital. though
some business men are not fully sens
ibie 10 this. I know Of two local mer-
chants VINO have invested in Seventh
street and G street property within the
past year or so, and ! am certain that
they Will have no regrets.
'1hey are simply prompted by their
knowledge OF The true value OF the
property they have bought and Of its
probability for development
Pledge Faith In Future.
With an understanding OF the invest
ment possibilities OF Washington real
estate and belief in the future Of the
city. a prediction that a Greater Wash
3ngton' is in sight follows naturally"
Albert +. Fox and Charles ". Fair
fax, real estate men OF wide experience
hold views similar 10 those OF Mr.. Lati-
ner- They both pledge their faith IN the
early development OF WaShinEton'S &
business district. citing as an iUustra-
zion the phenomena changes that have
taken place within a short period on
New York avenue between Ninth and
Fifteenth streets. Mr.. Fox predicts that
the square al the intersection of New
York avenue and IT street within the
next two years viii take on the ac-
tivities that twenty years ago gave
Market Space its present trade popu-
lErtty.