The San Francisco call., 1910-06-18

building boom in the financial and water
front districts. Not only are there
about a dozen good sized buildings un-
: are projected and viii probably be be
gun within month or two.
:. There are several reasons for this
Benewed activity. one is that real es-
I. tate agents who handle stores and
warehouse leases have been able TO
= hnd customers for new stores and
. warehouses in the retail, financial
water front and Mission districts.
Another reason is that at no time
since the fire could building be done
so cheaply as now. Brick laying can
now be contracted for at $l4.5O q
thousand. which is an unusually low
rate. Lumber is now quoted al SIS a
thousand, as a base rate. il is thought
that this viii not prevail long.
Contractors are now bidding closely
also, and this, together with low
price for materials. has brought about
= condition of affairs very favorable
Tor owners Of vacant land who con-
template building. The result is that
some OF the keeuest real estate own
ers are now going ahead with build
ing operations, regardless of whether
they can see an immediate tenant in
sight or not
p. This activity is most noticeable at
present in the water front district
But some very important operations
are in prospect for the near future in
the banking, office and retail district
NEW OFFICE BUILDING
The Wells Fargo Nevada bank is
. n |1F rf
cant corner at Montgomery and Pine
streets which it owns with James L.
Flood According TO the tentative plan
B.. row being considered, this viii be a
substantial five story store and Office
.bnildinE. This viii be for rental pur-
poses entirely, as the bank is not
thinking Of removing from its pres
ent. headquarters at Montgomery and
Market streets. VIII IA il owns. The
l-nion trust company is 10 remove TO
its new building at the corner Of Grant
srEeuue and Market
+ a notable addition TO the retail dis
Crict VIII he the Norris theafer build
arg in Ellis street. across from the
53rpheum, the foundations for which
are now being laid, and the building is
10 be completed early in the fan.
The Hornlein investment company is
about TO erect a handsome three story
--ssfice building in the west side Of
R0lDi lAtyl street dulhlnlnE TIE Dun0e
building between Ellis and O'Farrell.
This VIII hn up the last vacant space
in this block. The building is TO have
a steel frame and to be Of the most
3 improved type of class structure.
The plans provide for the construc-
rfsn Of only three stories now. but two
more stories viii he added later on.
-.struction win begin August J. The
building viii cost 100000. 1t viii be
provided with vacuum cleaning ap-
paratus, elevator and all the other
equipment Of an up 10 Jate Office build
ing.
BIG PROFIT ON LEASE
An interesting fact about this prop
crty is that the ground was leased for
80 years for a total rental Of more than
= million dollars. A profit Of 100000
was made on this lease Of the land of
Mrs Isabelle DOnahue. This deal was
. negotiated by Speck, Paschel & Co. last
February. The lot was leasedf by the
Hoffman investment company for so
years from August IS, 1910, at a total
rental Of Sl.o2L200. This lease has
been assigned to the Hornlein invest
ment company for $4,000 There are
. frame buildings on the lot, which are
held under leases running TO August
I. so the ground lease does not begin
TO run until August 10.
Among the men in the HOrnlein COM
pany are Hugo A. Hornlein, ]. Z.
Krun1b. Charles Wright and Max and
: Meirson, the two latter being cap
-5talists Of Placerville. who are bring
ing new money into the city Some Of
them are interested ia the Dunno in
wtestnent company.
FraE NEW DOWNTOWN HOTEL
when TO this list of new buildings is
added the big hotel TO 20 up at the cor
ner. of Kearny and Sutter streets and
the possibility Of the old Occidental
siotei being reconstructed in Montgom-
cry street from Sutter TO Bush, the
5aaRnitude Of this new building move
nent becomes apparent
Down toward the water front there is
another center Of great activity. The
two story building at the southwest
eo~ner Of Market and East streets viii
lra completed next week. and F. l.. Hill,
the agent. reports that all the stores IN
This building. with the exception Of a
few small spaces, nave peeh leaseo' as
well as most OF the offices.
NOT HARD TO FIND TENANTS
j find it comparatively easy TO find
tenants for new buildings IN the water
froDf district said Hill. 4 attribute
ing confidence in the business outlook,
wholesalers are demanding new and
more substantial buildings, instead OF
tire temporary shacks so many went
into after the fire.
b. Business is already better, and can
see 2 tendency among merchants to
branch out and prepare for larger oper-
stions The Improvement Of docks and
warehouses by railroads and shipping
interests. as well as the building OF the
seawall by the state, is all pointing the
way toward the upbuilding of this dis
trict
Leases certainly never will be OBJ
.tainabIe at less prices, and before long
they viii be much higher. The opening
Of the Panama exposition is being pro-
vided for 10 some extent by the fore
sighted ones. and they see that now is
the time TO get into proper quarters TO
handle the Increased business from this
source, as well as the growing interior
trade"
ADDITION TO BUILDING
one Of the recent additions to this dis
trict was the three story addition to the
Myself Rollins bank note company s
building in Clay street near East
A two story and basement building,
with walls to carry more stories. has
been under construction in East street,
IS3 feet south OF Mission. II has a
frontage OF IS feet and runs back 1876
F-et "a -+ana ~ street Hill reDOrfS that