New-York tribune., 1915-03-14
DESCRIBES FUTURE
OF THE CONCOURSE
Chesebrough Predicts a
Rapid Upbuilding of
the Avenue.
By WILLIAM II. CHEsEBROUGH.

There is little doubt that within tho
next two or three years the Grand
Boulevard and Concourse Will build up
with high class elevator apartments
with the same rapidty as has marked
the development of Park Avenue, Man
hattan's finest residential avenue.
The Concourse was completed about
four years ago, but the delay in carry
ing out the plans for the extension Of
the subway. the general business de-
preston and the scarcity of capital for
real estate development which has pre-
vailed in recent years, have all com
blned 10 retard the natural develop
ment of this avenue. IL is the longest,
widest boulevard in any borough of tho
city, being lS2 feet in width, and is a
direct thoroughfare by which residents
of Westchester County can quickly
reach by motor the business, shopping
and theatrical centres of Manhattan.
The beauty and breadth of the Con-
course renders property facing upon IL
unusually desirable as sites for relig-
ious and educational purposes. One
advantage this pioneering section pos
sesses IS that IL has no handicap TO
overcome in the way of former cheap
or inferior uses, such as some other
great thoroughfares have had TO strug-
gle with in their development.
The actual construction of the ele-
waited extension of the Lexington Ave-
nue. subway along Jerome Avenue,
being daily attested by the deposit at
various points along the avenue Of steel
TO be used IN its construction, has en-
couraged property owners and builders.
Already ten story elevator apartment
house has been constructed and sue
cessfully rented on a fatiron shaped
plot at 10th Street and the Concourse.
Other elevator houses have been erected
and rented and still more are in course
of construction.
Recently the Alliance Realty Com
pany- esebrough Freedman syndi-
cate purchased large plot consist
ing of ninety-iiye acres, owned by
Henry Naillard, situated on the Con-
course, Walton and Gerard Avenues,
l66th and Mcclellan Streets. The pre-
yailing value of these lots are about
One-third those of similarly situated
lots on or near Fort Washington Ave-
nue. IN Manhattan, at about the same
relative distance from downtown New
York. As the Grand Boulevard and
Concourse IS not only much wider
and finer avenue than Fort Washington
Avenue, but also more of thorough
fare. shrewd forecasters Of real estate
activities are unanimous in stating
that the lots on or near the Concourse
will treble in value by the time tho
Jerome Avenue elevated extension is
running. This section will have an ad-
vantage over Washington Heights IN
that the Sixth and Ninth Avenue ele-
waited lines will be extended across the
Putnam Bridge at I62nd Sneet, and
join tn extension OF the Lexington
Avenue subway. with a station giving
access 10 all these lines at l67th Street
and River Avenue,
Jerome Avenue seems now AT last y,
be about 10 come into its own after
years OF waiting, and considering that
TO the east lies big residential sec
tiol, which will centre around the Con-
course with six story elevator apart
ments lining that thoroughfare, and 70
the west the present well built up Sec
ton on and near University Avenue,
an that Jerome Avenue Is the Logical
an / CEly hubiness avenue 20 supply tne
needs Of this population. II must fol'
low that jerome Avenue is sure 20 be-
come "a important a thoroughfafe'
with rents and real estate values as
high as any avenue IN either Inc
Bronx or the northern end OF Man
haitian