New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-10-25
Spirit of Optimism Re-
garding Real Estate
Situation Prevails.
WELL FOUNDED HOPE
FOR MUCH TRADING
Important Building Enterprises
Now Being Perfected in
the Town.

There is no gloom iu the ranks OF the
real estate men Of MOntclair. y. J.. and
those who are interested iu realty as
business proposition here. Indeed. DO
might be said that fine spirit of op-
timism prevails. and that all the deal
crs have bright hopes Of a revival Of
The exceptional activity In real estate
that attracted so much attention i'm
MOntclair a few years ago.
In the building trade also there j,
much cheer, and while the value Of the
residential construction in the last sea
son has not been as vOluminous as in
some wears. the progress OF The town
along this line was consistent and en-
couraPne All the buildin@ coutr4c-
tors are looking forward hopefully to
next spring. when they expect 10 see
a great demand for construction work.
That TINS nope is well founded $ borac
out by the statement yesterday o.
real estate dealer who avcrrcd mat
their clients generally arc seeking new
houses, both ion purchase and rental.
This demand is so insistent ,haJ IL
must be mCt. and. NoHtclair having
great reaches Of uudevelopcd territory,
IL is probate that investors viii make
every effort 10 prOfr by the desire OF
new residents TO acquire homes tha-
have just been built. In the eastern
section Of Montclsir there is long
stretch Of land o. various ownership
along Grove ST. which offers admirable
building sites The area of this lana is
large enough 10 provide homes fCr
nearly ton thousand person. eaca
'smilv being accorded the usual a!lot-
ment Tor a Montclair house. On THIS
land it is expected that much of the
building development viii be an even
greater increase i'm the upbuildnG OF
the northern section Of the town, which
embrace all that section known as
Upper Nontclair. but which is com
ponent part Of Montclair aud included
within the municipal boundaries.
1t is agreed that the one thing needed
for the development OF the attractive
Grove st. section is the extension Of
the trolley system along that thorough
fare, from Bloomfield av. 10 the Mont
clair State Normal School, where con
rection could be made with the Valley
road line which runs along the foot OF
the picturesque Watching Mountain,
but too far west Of the Grove 81. line
10 be of much benefit as q means Of
TRANSPORTATION TO the people Of the
eastern district. Several weeks ago the
hopes that the trans portation problem
had been solved by the institution OF
an automobile bus service from the
LackaWanna station IN Montclall
through to Paterson. The company
operating the bus service charged only
fve-cent fare within the town limits
and il was thought that the service
would become popular. However, 1t die
not get fair test. The run from tht
centre Of Montclair to Paterson was
long one. and IL was difficult TO main
tain the schedule. The patronage
therefore, aid not come up 90 eNpecta'
lions. and after a few weeks the opera
tion OF the buses in Nontciair vas
discontinued.
At the present time some very I'M
portaEt building enterprises are IN
progress in Montclair, the most notable
being the new 100000 high schOo
building. which is being erected a.
Park and Chestnut SITS. This building
will be one of the finest structures OF
its kind in the East when finished
which will probably be on June !, next
year In Upper Montclair the FIRST
National Bank is putting up q $4,000
bank building, and neal By are being
erected important store buildings which
The completion Of these buildings will
ofec, great transformation Of the
business centre Of Upper MOntclair,
which has heretofore been rather in
different i'm character so far as archi-
lecture and construction were con-
cerned. The new $4,000 Carnegie Ii
brafy. on Bellevue av., Is not far from
the new bank building, and, when II Is
dedicated shortly, will be another i'm
portant addition to the central district.
1t is probable that before the cold
weather sets in work will be started
on the new First Congregational
Church. which will take the place Of
the edifice that was destroyed by fire
last March. This new church building
will probably De the costliest ever
erected in Montclsir, as it is estimated
that over 100000 will be required 20
build on the plans which are being ia
vorably considered by the members Of
the congregation.
In reference 70 the real g tate trade