New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-12
Experts Tell of the Many
Benefits Under System.
Nv Charles Milford Robinson,
of Rochester

vi RcN'~o~~
This address toas delivered at the
recent real estate convention at Long
Beach, L. /. II wGs a timely topic,
as on July rs last the Board Of EST
mate put into effect building zone
plan. Some owners are complaining
that it has seriously injured the
ralue of their properties. However,
most realty men are delighted 'o'th
the plan.
II seems 10 me there are four eco
monte reasons why the real estate IN
terests should look with favor on city
Manning. The first reason is the gen
eral one that whatever IS or economic
benefit to the community as wnoie, as
citv planning claims TO be, is advan-
tageous to the realty interests, Tor tney
make up an important part OF Ihe
community. In addition, realty inter
ests can prosper professionally only IN
that degree as the community prospers'
The benefits which arise to the com
munity from city planning are OF vsri-
Gus origin. For the present II Is
enough to say that one Of the PROUD
claims of the operation that IL rep
resents preparedness, preventing loss
by the use of foresight, insuring
against waste of tearing down, or Oh
running" down, by the completeness
of the civic adaptation 70 purpose
which it provides. Undoubtedly 1t does,
in at least a considerable measure, nave
this effect. In so far as it does, IL
thn muUltX- and
directly TO the realty interests.
The second economic reason Is the
special one-by which | mean that II
has most concern with the real estate
point of view. To see how far THIS IS
true, we must ask ourselves Just wnar
in particular city planning does, Dy
way of exercising foresight.
Primarily, city planning designates
what use shall be made OF the various
parts of a town. 1t does this in very
thorough fashion. 1t not only says
this area shall be park, that shall be
the civic centre. here must be located
the stores and offices, there the fac
tories. and that the homes over yonder
shall be safeguarded from the intru-
sion of inharmonious factors, but II
determines the use TO be made of dif-
teTtHt 5LfttlS. Hlo oNANNNf 49,
plan saws, shall be q main traffic ar
terry, suitable for business and FOR
streetcar lines, and made wide In con-
sequence; that one, set apart Tor resi-
dences, shall all its life be quiet, rest
full and beautiful.
Removes Element OF Uncertainty
Now. what does this mean TO the
real estate business? 1t means this:
The status of even cheap real estate
is changed from a speculation to gilt
edged investment. That means, as we
ali know, a higher general average
price and more stability in values. The
element Of uncertainty is taken out.
The purchaser knows what he is buy
ing, the agent can truthfully state
what. he is selling. IL is like buying
q guaranteed stock, only now the city
is the guarantor. The chances OF loss
are reduced through this operation by
eliminating the opportunities for unex-
pected changes. A man who puts MS
savings into a home with lawn In
front is certain that factory VIII not
go up next door, that no grocery store
will mar the sidewalk line, that no
high building will shut of his lght
and rob MIN OF air ana sun anu s'oi9'
The merchant who risks his fortune IN
the purchase Of store has assurance
that business will not be lured sudden
ly into an adjoining street. Or II you
buy q tract on the outskirts OF the
city, with the idea Of sub-dividing,
there is no danger that the next tract
will be built over IN q way that Will
destroy or greatly reduce the value OF
your tract; no possibility that you Will
be put in a pocket. unable TO get into
or out OF your tract, as recently hap
pened to q man in Detroit.
A third direction In which the real
estate man, whether owner or operator,
is helped by city planning Is In the
reduction Of the cost OF tract develop
ment. Under city planning, since it
becomes possible TO foresee the use
which is to be made Of street, we
can build the street in accordance with
its needs. All engineering features. as
the size OF sewers, the strength and
width of pavements, can be adj pied to
actual needs, without the necessity OF
an extra capacity which Is
a,tuned to the roseate hopes OF vision
airy optimists.