The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1910-05-07


viii be commenced within a few WeezS
II is believed that many Duz.a-.s
structures which under the pTesenL = :
may not be constructed ulSu5r. .llI .-
retnodcled in order to derive the benefits
OF the new law yFlille any NUMBER o.
valuable siuSC FIJI be improved mas
much - the buildings 10 be placed upon
them viii DE capable Of producing more
revenue
Nay Raise Building Standard
Growing out of these general results.
II Is claimed. VIII bc the construction Of
q constantly increasing number OF fire
proof buildings. thus raising the stand
ard of building IN washington
80 surer method Of getting at the sit
Uatiou which viii be ushered in by
the new law may be employed than by
examining The case Of the Southern
Building Corporation
According TO q statement by James
l. kSTTlck- president Of the southern
Building Corporation. the project OF
constructing a building at the northeast
corner Of Fifteenth and II streets
doubtless would have been dropped had
IL not been Tor the passage Of the bin
which viii enable the company 20 add
two stories 20 the structure giving Il
a height Of $50 feet, whereas, under the
present law, II could not have been
built higher than no feet
OF course, the construction Of two ad-
dittOnal stories over practically the
same foundation and under the same
Toof-CwO features already figured in
the general cost OF the buildinS-iu-
wolves a comparatively small outlay
ana leaves room Tor substantial re-
turn on the Investment IN the rent prod
net OF the two floors
Effects of New Law.
In the opinion of 1Ir KarricI, the
passage Of the new buildiuE law VIII
make Il possible for the southern Build
ing Corporation 10 add at least - per
cent to the value OF the building IL in
tends TO erect
9 street furnishes q good example
Of the changes that may be brought
about, and doubtless VIII be, under the
new law, as the business section Of
Washington pushes northward-
The present width Of 9 street is nine
y feet, and ander the present law,
no building on this street can be high
er than ninety feet, unless il is located
height may be the same as the width
OF the InCeTSeCtIng street
With the new law providing that
twenty feet may be added to the width
OF the street, Il viii be possible for q
street structures hereafter 10 be built
10 feet high, and. IN case of corner
lots where the iutersectiuE street is
10 feet wide such as Fourteenth street.
the building may rise to "a total height
OF I'D feet
May Increase Loans.
Whether the new law viii 90 so far
as 10 justify the theory that . 0er. cent
viii be added TO the value Of property
IS matter for speculation. but the
opinion IS held by not a few persons
that II viii not fall far short Of this
amount
Undoubtedly. the privilege Of add
Ing two stories on buildings that ave
now up TO the limit In height. if taken
advantage OF, viii increase the amount
OF loans made on the buildings. while
structures 10 be erected NAV ~ 81
Planned as 70 secure heavier loans than
iney may at present
Thus, with the effect that the new
iaW VIII have or the adjustment of
values and stimulation of building on
teTprlses. IL is evident that there will
pe proporuOna1e readjusrment of
loans on property
II is generally conceded that the in
Huence OF the new law on property
values WI be determined largely NV
the locality In which the property is
located. 80
Return on Investment
There nay be instances in which a
non-f1reproof building. not exceeding SO
IeeL In height would produce a bigger
return on the Investment than would
nLLeProoL building costing more
winch IS erected above the 60-foot line
The difference In the cost of erecting
q urepTOO1 and non-ff-~0-o0f b77f15f-v
as related TO the difference in the reve-
and one that is 80 feet high viii 7ay-s
70 be considered in conjunction with
Jhe iocallty where the Improvement is
10 De made If the builder would 4srer-
tain which Of the two Investments
would be the more profitable
II Is not TO be denied that there are
certain valuable business sites which
unoouotedly would produce bigger
profits If improved by 13O-foot mo
proof buildings than If bv 60-fOot non
fireproOf buildings
Taken ali in all, the question is largely
one Of sites.
In the case OF the Southern Rui15in-
Corporations structure, IL is said tn
investment will approximate 81 COO an
S250,O00-
Difference IN Cost.
There can be no doubt that the diff
ference in constructing q nine-storv
building and one Of eleven stories with
the outlay for the roof and foundation
already provided for. VViII be more than
justified By the difference in rents Sc
cured from Q Dine-StOTv structure and
one having two additional floors
According TO the plans OF the South
eru Building Corporation the Fifteenth
and Il street structure viii be ready for
occupancy by next March.
The rapiditv with which the building
fills with tenants viii furnish the final
proof OF whether il pays 10 construct
a building on a desirable site 10 the limit
% height allowed BY law
II this proof IS forthcoming Il is be
Eeved the height limit viii be taken
advantage OF o. large scale in invest
TeutS planned for other. sections Of the
city and that The read justmenr Of DrOT-
erty values viii be general