The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-01-16
LOAN MAKERS STIFLED
LOCAL BUILDERS ARDOR

YORK Central property at the foot of
tho avenue, 40 to speak. fer apartment
houses, which are to he the finest on
the avenue. Had there been no such UNI
p~recendented demand II IL not likely that
New York Central realty would have
been utilized so soon or in such q
manner
1t IL no secret that the railroad people
whose original plans were the develop
ment OF their Park avenue realty with
fine apartments. had given up such
hopes after years of waiting INC we're
ready to permit lofts or commercial
buildings TO go up on this property.
There was no residential section In
Manhattan which experienced more
building than Park avenue. When the
operations planned this year have been
completed there Will be few good sites
available on the avenue In what 10 now
Ieooshized az the apartment hous
limit. Many Of the SOL, 900, 900, the
total cost of buildings planned for Man.
hattan, are represented in this Park
avenue section.
The popularity of apartments as
high slass homes seems to be disturbing
the mode OF LIVING along Fifth avenue
opposite Central Park, which is essef-
TALLY n fine dwelling section. On the as
sumption that upper Fifth avenue dwell
efs nave had time TO lose their prejudice
against apartments. three apartments
were planned for this dwelling house Sec
tion. The esponse which has met these
houses seems TO Indicate that IA change
IN the mode of living IL close at hand
and that from now on 1t will be a test
between the apartment and the private
home.
Economies and the ability of APART
ineht builders TO give everything found
IN the best private homes are expected
10 WIN for the superimposed DIV ellings
such rs are being erected on the avenue
AZ present. Such scarcity OF dwelling
construction OF the first order by sInci-
iatihS builders for several years back is
another indication that the strength of
apartments is appreciated and feared.
support vas freely given to apart.
ment operations on the West Side, even
though that section Of the city has been
under development along these lines for
a decade. A feature of the West End
opeiatLons Is the return To- large suites,
or the one apartment to a floor tyne of
apartment. which has proved very popu-
lar with renters In the East Side apart
ment zone. Builders who have been
associated with the Wes, End In pre-
vious years were the chief operators,
having been favored by moneNed inter-
csts because of their experience and
know ledge Of the wants Of the district.
Though huilding there was not IA
heavy 49, IN sume other wears. II re-
Elected u very healthy tone. West End
avenue was the centre Of new Construc-
ton west ~ Central Park. Columbia
and Moriingside sections. Just to the
north of the West End field Of opera-
tiots. found little favor with builders
and were passed over for the more ac-
tive zones to the north-Washiugtou
Heights aud the byckmau.
OF course as builders worked north
they changed the character and cost of
their undertakings TO 1T the neighbor-
hoods. Washington Heights and the
bvckman are to-day the leading mod
crate price apartment centres Of the
city There IL "A great demand for ac-
commodation through these sections aud
though builders have been rushing con-
struction. their efforts nave not Vet
equalled the call.
Early last spring brokers In the Sec
tion said that they were able To furnish
housings TO only part of he many who
wanted To live on the northern plateau
and in the pleasant Dyckman valley. Al
that time building operations we're To be
seen AZ every turn. In the last half
dozen months n number OF builders. free
OF operations In other parts IT the city.
have entered the Heights field and there
~ no ncighhorhood which reflects more
activity than the Heights and the Dyck-
man. So urgent has been the demand
for sites that the Loyal Smith and the
j Hood Wright properties. covering many
blocks west Of Broadway and in direct
line of the development, have been turned
over t. builders.
Though tho Wright roperty has been
on the ma, ket oni, n few weeks builders
swarm over 1t and tho rush is So ami
mated and hasty that uue Is reminded
Of a boom town under construction.
The war has been IA boon 10 Waahing-
ton Heights as We'll as other districts
OF the city, bringing 10 II tenants who
would have been living in Canada had