Omaha daily bee., 1911-12-24
TIMELY REAL ESTATE GOSSIP
Community Factory Building Would
Help Real Estate Business.
WOULD BRING MORE FACTORIES
offer OF the Auditorium to the city
Brings ont Many Estimates ~
60 the value OF the
Property.

Discussion among the real estate men
as TO the Commercial clubs plans for
erecting q community factory building FOR
small manufacturing concerns indicates a
general belief that the plan. II successful,
viii lead to the Increase In the number of
manufacturing concerns IN Omaha and a
benefit to the real estate business. What
the scheme means for Omaha is told in
the following statement made by Commits
Eloner Guild and Chairman Harry A.
Turkey OF the real estate committee OF the
club;
Wherever a factory building has been
constructed for the housing OF a large
number Of small concerns II has proven a
good Investment for those putting their
money into It. In Haverhili. Mass. Gin
cinnsti and other towns where this has
been done, and second, third and fourth
buildings have had TO be put up TO ac-
eommodate the demand for factory space
in small units.
If this plan goes through in Omaha
and there Is no uncertainty about II at
the present time. It means that any
small outfit wanting 1000 feet Of more OF
space viii be provided with the same In
a strictly modern fireproof building. well
lighted and heated with freight and pas
eenger elevators. good provision for power
at low rates, etc, located on trackago of
course. so that those needing this facility
will have II. Just where II will be To-
Gated has not been determined. but II will
be where most advantageous for the aver
age light manufacturer.
AT the present time many factories
are scattered around Omaha in the most
Inadequate and very often unsanitary
surroundings. The idea was developed
not only on their account, but as much or
more for the newcomer who, on looking
over the city for available space, finds
nothing that appeals to him. The result
Is he goes on 70 some other town and
Omaha loses a new Industry. During the
last week we have had a practical dem
onstration OF Omaha's needs in this re-
Epect. Two hat and cap factories with
which the Commercial club had been
in correspondence lost no time in shipping
their goods to Omaha when its excellent
manufacturing and distributing faclliuel
were brought to their attention. with
out any formality they just put their
stuff on the cars at Springfield, Mo-, and
Indianapolis, respectively. and landed
here with their goods, looking for a looa-
tion.
That was where the real estate COM
mittee was up against Il. They have both
been provided for. but a factory build
ing. built with the idea OF getting maxi
mum facilities at a minimum rate OF
rental would have appealed to these peo-
pie more readily than the miscellaneous
locations shown them. II IL 70 OmAhaB
credit that factory space IN scarce, and
Il Is a good advertisement for the town
20 show that there Is not an idle smoke
stack within its limit. That Is all very
well for the man who is here. but hard
on the fellow who wants 10 come here
ana hard on the industrial committee TO
take care OF him when he has TO have
an immediate location. History has
shown that Il man cannot get what he
wants in hurry. he wastes no time on
the ground. but goes elsewhere.
In the other towns where such a build
ing has been constructed, tho stock has
largely been subscribed In small amounts
by people who desired & small Invest
mont In real estate In their home town.
In these cases the stock paid above the
average rate Of interest secured on build.
ings. and with the basis OF rentals In
Omaha, success for the building Is as.
sured at the Start. The proposition. how
ever. Is not dependent on these small In
vestors entirely. as several prominent
business men have already signifed their
willingness to take stock In amounts OF
$500 ana upwards"