Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-05-06

tThis article Is of particular Interest
to residents of the esd, 3sd, 35th, 41st and
45th wardsD
The assurance of real rapid transit
facilities by the end of next year, when
the Frankford elevated line will be COM
pleted. II the transit loan Is carried on
May 49, has brought about an unpre-
cedented boom In real estate In the North
east. Building operations. which will in
crease Philadelphia's taxable real estate
by more than $4,000. 900, are now either
under way or are contracted for in the
i, 23d, 33d and 45th Wards. Real estate
dealers and builders in charge of the
Z various operations attribute the sudden
activity directly to the beginning of work
on the Frankford line.
During next year. even before the
Frankford IL" has been completed. the
hrst benefits of this real estate activity
{will be realized by the city in the form Of
Z increased receipts from taxes BY 1918
or the first year of operation of the high
speed line, real estate dealers estimate
that approximately $4,000 will be paid
into the City Treasury in increased taxes
on the building operations now under way,
and nearly $4,000 into the treasury of
the Board of Education from the same
source. How much this will be increased
by other operations to be begun as the
real estate boom spreads cannot be esti-
mated now
1000 NEW DWELLINGS.
A total of nearly 1000 dwelling houses
in addition to stores and other buildings
is now under way contracted for in
Kensington and Frankford alone. Several
OF the builders alive to the desire OF work.
ing people to live near high-speed lines
are advertising that the Northeast Oele-
waited will run within block, or two
blocks or three blocks. as the case may be,
of the houses which they are erecting
The following are among the largest of |
the many operations.
A group of 200 houses now under way
and another OF $50 soon to be begun along
Sedgley avenue, Kensington avenue Tor
resdale avenue, l. street and NJ street.
Both groups are being built by the Merit
Realty Company The land on which the 4
two groups are being erected is assessed
at $4,000, while the blocks of dwellings |
when completed will be assessed at ap- |
proximately $500 900. thereby increasing |
the city's personal property for taxable |
purposes by more than S1,750,000 on two
single operations
This operation will be within a block OF
the Torresdale avenue station on the
Frankford elevated.
The same company Is also building
another block of % dwellings at Mar
garet. Tacony and Melrose streets. The
land has been yielding taxes on an assess
nent Of $4,000, while the groups of
buildings, when completed, will be assessed
at about 100000.
The Kensington Realty Company is
erecting a block of SO houses on Ken
stngton avenue at Jasper and Airdrie
streets. which will be assessed at about
100000. The land on which this opera
tion Is under way was assessed at $50, 900
A plot OF ground surrounded by Tulip,
Janney. Ann and Monmouth streets, as
sessed at $4,000, was sold this week TO
James Arthur. who will commence work
on a block of 1ss dwellings within a few
weeks. The total value of the operation
when completed will be close TO $3.50, 900.
Matthew w. Dougherty has Just COM
pleted block of l4l houses at Frankford
avenue and Venango street. and is begin
ming another operation of l10 houses at |
Ontario and 'Tioga streets, one block
from the elevated line. The land upon
which Mr.. Dougherty's operations are
located was assessed at $4,000, while |
the two blocks of houses when completed
will be assessed at more than 100000.
George Edel Is having built at Frank
ford avenue and Buckius street a block of
40 dwellings. which will lie assessed at
about 100000 when completed. The land
was assessed at $4,000.
Edward Flood is building block of lis
dwellings on Allegheny avenue between
+. Westmoreland and streets, and will
begin another operation of n houses in
the same locality later this month. When
completed they will be assessed at about
100000, while the land was assessed at
$4,000.
One group of so houses at FranlSford
avenue and Venango street, and another
group Of 81 at II, Ontario, Tioga and /
streets, are being erected by Victor j.
Magnant, When completed the operations
will be assessed at about $4,000, while
the land on which they are located was
assessed at sl5O.0Qo,
Harry Meyer Ii building SO houses at
n EUh will
be assessed at about S1l5,000. The land
here was assessed at about $4,000.
Other operations are:
A block OF 100 houses by Jacob Field
man Sons, at Cottage and Haworth >,
streets.
A block OF IS houses by Herman Auth,
at Torresdale avenue and Pratt street
A block OF IS houses by William Vel
land. Jr.. at the southeast corner OF Bridge
and jackson streets
block OF ls houses By Goldberg 6
lebruek at the southeast corner OF Bridge
slreet and TorFesdale avenue
IN THE ssTH WARD.
Building operations Of equal Importance
are being planned throughout the sbth
Iprd L." between Bridge street and
RhaWn street Holmeshurg. II Is said
N those sections. however. that no actual
steps Eill be taken until the transit loan
la4 been voted upon on Nay I6.
While the FTankford line IS already
suder contract as far as Bridge street
he ramaininE three miles Of the Il ana
.he line aeross the ssfh Ward must wait
'qr fhe passage of the transit loan before
hey can be begun Residents Of the North
.Eaaeit program are working almost 70
aan for the passase of the s67. 10o.00 /
'ransit and port loan bill On May Is. 4
d.