Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1920-11-11
BUILDING SITUATION
Is PROMISING HERE
Continued froY Page ons)

Dor will probably be no cheaper,
but we feel that this is the time
to build"
The city schools will eXpend at
least $425,O00 in the additions
which will be made after the first
of the year. There is no doubt of
this construction being carried out |
as the school board has determined |
to pass upon the bond issue at that
time. The Methodist sanitarium is
considering plans for a large new
main building, which will be built |
between the two low wings, in the |
space now occupied by a cottage. |
The new building will cost about
$50, 900.
Plans for the above buildings
have already long been drawn up !
| and approved, and the contract has
/ been let for the First Savings build
| ing. In addition, tentative plans
have been drawn up for large
number of buildings which are UNI
der consideration. one of these is
I a new three STORY building at 81.
Anthony's orphanage, which VIII
almost undoubtedly be built after
! the first of the year.
Apartment Houses Needed.
Real estate dealers, contractors,
architects. all admit that there is
. great demand and need for
apartment houses. attractive ones;
| for homes. small but modern ana
| convenient,
Banks are not making loans
readily for real estate, however.
one bank president in Albuquer-
enc stated that his institution had
not made a loan for the purpose
of building a home for four months
and that the chances were that
they would not do so until after
the first of the year. Loans to-
cattle and sheep men are too heavy
and the necessary business of the
state must be supported, he said
A large number of homes are be-
ing built however. partly because
building materials have gone down,
( II is impossible to estimate Just
how many will so up during the
winter. During the last ten months
S526.545 has been spent on bulid-
ing. of this amount $4,000 was
for residences seyenty-nine per-
mits for homes having been issued.
There were eleven building permits
issued for business buildings and
repairs and additions Last month
alone fOrty-three permits were IS
sued calling for an expenditure OF
l$42,1SS, while in September there
was $42,255 worth of building
Gone. In October of last year there
was only $31,6S2 spent for build
ling, while the entire cost for 1913
amounted to $405,550,
Plans for a theater which would
cost around 100000 were drawn
nm and considered by the Barnett
Amusement company of Albuquer-
oue but to the regret of the com
munity these plans have been
abandoned Mr.. Barnett states that,
although Albuquerque is a good
"show town" and although a good
opera house would attract double
the number of plays that IT has
had heretofore, he does not feel
THAT a first class theater here could
afford to compete with the hlgh
school auditorium. the armory ana
other smaller places, where enter
tainments of home talent are
given.
Time to Build.
This is the time to build, said
Wallace Hesselden. contractor III
an interview yesterday. Materials
are cheaper, but they viii not DC
sc indefinitely. The law OF supply
!. and demand will affect the price
of lumber and of everything else
t locally
. "Pcople are not willing to pu
V the money into their homes ina
d they nut into other things de
n clarcd Mr.. Hesselden. speaking
o from his long experience as con
It tractor.
a "They do not realize the value o
S houses Rents have always peel
0 too low here. and propably in {
n great many other places as well
: The landlord is not proflteerlng
l. because his investment costs nm
S. more than he can make up, as
rule, by renting. That is why tn
saving has arisen that it is cheaper
to rent than to build
Paving and sidewalks are an
other adjunct to building whlcf
Mr.. Hcsselden declares are be
gruded by owners. They will no
T. dig up the pavement, once 1t i
down, as they realize that 1t en-
.t hances the value of their property
d but they avoid putting it in as ions
n as possible, while in cities Whlcf
"a are booming paving and sidewalks
J. are the first thing put in to sell
m real estate addition
,e 1t is the best earned none.
NJ spent, agree a number of CONTRACT
n ors who point out that muci
money is invested in such luxurie
\ as automobiles. which depreclat'
ia greatly in a short time. While tn
F. value of well-built home IN
Il. crcases right along.
IN The estimate of building to D.
40 done here does not include tn
,e $2,000,00O shop construction of tn
At Santa Fc railroad. which Is bring
ing much money into the com
10 munity.
r. While building shows an ad
"a vance over last year it is not near
10 ly adequate for Albuquerque hous
A. ing requirements. and IS noticeapl
A. for the fact that it includes n
a apartment houses. or no hotel. IN
Sc need of both of these in this cit
is so we'll known that it will NO
40 come as a surprise to learn tina
D. nearly every architect in tow
of holds numerous plans for edifice