Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-10-02
URGE MORE ACTIVE
BUILDING PROGRAM
Straus & Co., New York, See
/; Nothing Gained in Delay
ina Construction.

The statement urging the elinina-
ton of hesitancy in starting building
projects, given out today by s. w.
Straus & Co., of New York. in con-
nection with the announcement that
work on the twelve-story new home
for that corporation has been started,
is Of interest to local construction and
banking interests. The company has
financed many large local operations.
s. w. Straus & Co. are said to be
very closely in touch with building
conditions and the general outlook IN
the industry. Their first mortgage
loans on buildings of this character
run into many millions OF dollars
monthly, it is reported. 1t may be
taken as encouragingly significant,
therefore, that they are going ahead
with the new $4,000, 900 nome lor their
New York organization at the present
time rather than delay until later
date.
UMuch Hesitancy" Is Noted.
There has been much hesitation on
the part of many interests regarding
new building projects, but it is quite
evident that in the opinion of S. w.
Straus G. Co. nothing is to be gained
by putting off building plans. With
regard to this point, they have made
plain their attitude in the following
statement:
The demand for new buildings,
both for residential and business pur-
poses. continues to grow. Rents are
continually advancing and it is not
likely that they will become stab
ilized soon. This is particularly true
in New York city, where the housing
shortage is becoming more acute
Conditions in the labor market, trans.
portation delays and shortage OF
building materials have combined to
keep down new construction work.
The demand, however, for space con-
tinues to be augmented with the ex-
population and the generally mani
tested desire of the public for better
standards of living.
Building Shortage q Hindrance.
'The widespread shortage of build
ings in this country Is hindrance
to general business development and
q disturbing factor in our social and
economic life. Every possible effort
should be made. therefore. to relieve
the very acute situation that exists
The only way this can be accom-
plished and conditions restored to
normal is through additional build
ings ..,. 20. ...,
is more urgent than the need 70,
more buildings throughout the coun'
while the demand for homes is
more acute than for structures OF
other types. there is requirement for
buildings Of every description. and
each new project that becomes ar
active operation helps the general
situation. It must be borne in mind
that the longer new work is delayed
the more serious the housing situation
becomes. We have fallen so far be-
hind normal requirements that pro-
longed period of intensive building
must necessarily ensue before the
various aspects Of the housing sit
uation become entirely stabilized"
The plans for the new Stratus build
ing call for . twelve-story structure
Of which s. w. Straus & Co. will &C.
cupy three banking floors; In addition
to which they will utilise the entire
top floor as a library. rest and recre.
alton rooms and for various other
features connected with their wei.
fare work. In New York city the
new building project is regarded with
special interest. as 1t marks what Is
said to be the most notable addition
that has yet been made to the new
and fast growing uptown financial
district.