The San Francisco call., 1910-05-21
mob HILL To have
RICH STRUCTURES
FairmOnt. Pacific Union Club
and Cathedral to Grace City's
Noted Eminence
Business Section Crowded With
Costly Skyscrapers on
Valuable Sites
By DAVID H WALKER

6Y Law IL w
An interesting chapter might be
written about the millionaire corners
IF san Francisco BY this is meant
the corners that are improved with
buildings Of which the individual cost
is Sl.000,000 each. The figures range
up To an estimated Sc. 600. 900 for the
Palace hotel on four corners. including
hotel equipment, which may be safe
iN charged up TO construction cost, a s
s1e equipment alone makes the prop
crty able 10 operate for hotel purposes.
The subject is brought TO mind by
the large improvements that viii soon
be made and that i'm part are in prog
ress Of completion on Mob Hill. In
this favored scenic locality the build
iugs on one side of California street
I'm TWO blocks alone viii soon represent
st least S4000.0o0 i'm value. This es-
Inmates the Fairmont hotel cost. at
s. 100000, the Pacific Union club. in
cludinc extensions and the original
cost of the old Flood mansion and new
equipment al about sl000.O0O and the
Episcopal cathedral TO be erected on
rhe old Crocker estate property at
S1.000.0O0- The work 10 change the
Flood mansion over 70 suit club pur-
poses in contracts recorded with build
CTS call for a stipulated expenditure
II more than 100000
4 COSTLY RESIDENCE
The Flood mansion. for its size. was
originally among the costliest buildings
ia any American city. The stone was
QUarried i'm Connecticut at the famous
Portland brownstone Quarries, was
lightered down the Connecticut river
to Long Island sound. then trans
shipped TO. come to California and then
earted by wagon loads UP the steep
inclines Of Mob hill at very large cost.
Outside of the corners OF Market
street, where intersection takes place
with hearny and Third streets, and
the exception also Of the four corners
occupied by the Palace hotel, that ex-
tends over an entire block bounded by
four streets. there is no area of similar
extent that VIII bear as costly i'm
provement for wears a. those to crown
Nob HIN i'm TWO blocks Of one side OF
street The fact is that the structural
and equipment cost of erecting one
hotel that occupies 4 whole block, one
cathedral and one clubhouse. viii rep
resent $1,000. 600 exclusive of the large
land values. which. collectively would
swell the cost Of the immediate neigh
borhood TO s5.000.o 600 at least.
HIGHEST OF IT'S KIND
There arc no other that might con-
structiveIy bc called sL000,000 residen-
tial corners in san Francisco. counting
= hotel and d club As residences. Mil
lion dollar corners in the business por-
fiOns Of the city are not 50 few as
might he imagined by any one who has
aot looked the matter up. The large
structures at Third and Market largely
used for newspapers. namely, the
--laus Sprecllels building and The Hearst
building and the Chronicle building at
Market and hearn1-, represent in land
and buildings some millions Of dollars.
In fact there viii be AT these three
corners an unusually large aggrega-
fiou Of wealth in realty and improve
nents, much more than IN any other
equally limited business neighborhood
of ahe present The new Hearst build
ing is in construction. The two other
large buildings have been rejuvenated
since the fire of 1905 and have been
.cnstantlE in daily use for some years.
VALUABLE BUSINESS BLOCKS
The reconstruction Of the downtown
retail section has brought into exist
ence several individual business blocks
of tie millionaire class. Among these
IS the great structure for the White
House, that has an immense frontage
on two streets, Grant avenue and SUIT
ter street The Phelan building. that
fronts on Market and O'Farrell streets,
IS millionaire structure In this To-
ality the investment in high class
1uiidings is quite phenomenal compared
with the class of buildings that for
merly occupied the same sites. The
Phelan building looks down on two
bank structures, one OF which. the ele-
giant building OF the Union trust COM
pany, is nearly completed, and the other
the Savings Union. Is progressing
toward completion quite fast Count
ing in the Phelan building and the two
banks mentioned, It VIII be seen that
there is more than 100000 to be
represented on these three corners IN
building improvements. The neigh
borhoOd Is very rich in improvements.
Large structures are on every hand
and all Of the most modern type.
There is a great accumulation Of in
vested money near the corner of Powell
and Market streets. There the Flood
building has frontage on three streets
that is uneoualed IN extent by any
business building site in San Francisco,
covering the entire width of a block
between Market and Ellis streets and
extending q long distance on both
Market and Ellis streets. On the oppo-
site side OF Market street is the Par
rott building. occupied by the Empor-
lam which. fronting on Market and
streets, is an important asset
in san Francisco's roll of building i'm
provements.
OTHERS NEARER FERRY
Millions are represented in the op-
posing corners Of Ssnsome and Cali
fornia streets, where the Bank of Cal
ifornia and the Alaska Commercial
building. both Of large cost and both
architectUrally prominent, are situated.
Just above the Bank OF California, on
the opposite side OF California street,
is the million dollar structure of the
Merchants Exchange. that has 'front.'
ages on California, Leidesdorff and
Montgomery streets. At the northeast
corner OF California and Montgomery
streets stands the Kohl building. Not
far away is the Mills building. on Mont
gomery- street, which fronts on Bush,
Montgomery and Pine streets.
Another neighborhood OF costly
buildings IS at Post and Montgomery
streets. There are the Crocker build
ing that - has large frontage on
Market and Post streets and the First
Nroffoua1 hank bufldinE fronffnv On