Evening journal., 1920-03-11
To SELL Union
GARDEN Homes
AT half COST
lcontInued From -. pase.l

build the houses. apartments and
stores. In an jOi homes, six apartments
and four stores have been erected.
Water and sewer pipes. and telephone
conduiis were put In, excellent streets
laid and parking spaces provided.
Although the war ended abruptly be
fore the homes were finished, the
dwellings since have proved a great
boon 10 hundreds of families In VII
minglon. who Otherwise would have
had nowhere 90 las their heads. Today
am the houses are occupied and there
is a large waiting list
Two Plans for selling Properties.
Mr. Mimoth has two separate plans
for disposing OF the properties. The hrsk
sale by the Fleet Corpor-
alton OF the entire Union Gardens en-
terprlse 90 the Liberty Land Company
for approximately s2,50000O. or about
one-half the original cost in other
words The Government said Mr WI
moth, Stands ready 10 lose s25O0vo0 as
part OF the wars cost
The offe rto sell the properties
10 the Liberty Land Company Already
has been proposed by the Fleet CORP
grafton. II 10 Is taken the Liberty
Company VIII sell on the homes iisell.
The Alternate plan for dlsposins or
the properties IL the surrender by lhe
Liberty Land Company OF It's Interest
in the project and The selling on Dy tl'
Fleet Corporation of the house 3, prei-
cradle to present tenants, also al aoou'
one-haf their original cost
we already have disposed or som
AGO houses which were financed by
me Fleet Corporation during the war
said Mr. Wilm0ih 20 the Evening jour
nal eprcsenlaiive.' and no dopD.
believe we readily could dispose on
those In Wilmington" The houses
sold. 10 which Mr. Wilmoth referred
are located in other Industrial 'cenlers
and include West Philadelphia, Cam
den and several middle west ciiies.
In taking over the properties Mr.
Wilmoth said u was expected mat tie
men who comprise the Liberty Land
COMPANY and who organized 10 for inc
patriotic purpose Of providing homes
for workers and their families durins
the great rush Of activities IN VII
mington during the war, would De
willing 20 forego any proilt from the
project.
III tho government Is willing to
stand a loss OF s25O0,0OO and more
said Mr.. Wilmoth, II feel certain the
publlc-spiriled men Of Wilmington, VINO
backed the Liberty Land Company VIII
be patriotic enough TO forego any laea
OF profit"
Admits Cost Was Exhorhiiant.
Mt. WllmOth did not hesitate to de-
clare that partly owing TO the great
scarcity OF labor, the exhorbiiant cost
OF materials and building conditions IN
general. the original cost Of the Union
park Gardens was fdr above What u
otherwise would have been.
"There also was much waste and con-
siderable mismanagement in the con-
strlciion OF The properties he declar-
ed adding: "However such conditions
were not altogether unusual I'M other
building operations during The war
period
1T is the Fleet Corporations aim and
desire" said Mr. Wnmoth 20 liquldtte
an It's housing operations In Whining
ton and elsewhere with the least in
convenience 10 tenants. and as quickly
as Is practicable II % Is ohlised 70 sell
on The properties in The Union Park
Gardens Itself. 70 shall have 20 main
tain an Office for collection OF money
and supervision Of the various trans
actions for years TO come It prefers
therefore. 20 sell out IT'S rights 90 the
Liberty Land Company entirely and let
the latter dispose OF the properties"
Should the Fleet Corporation take
over the entire ownership Of the land
and properties. Mr.. Wilmoth iniimatod
that It was probable 70 would sell on
the homes on a plan somewhat similar
90 that which was used recently In SELL
ing or homes owned by the Govern
ment In West Philadelphia. This pro-
vldes for a cash payment OF ten per
cent. OF the selling price, and The bal
ence In monthly payments extending
for a period Of ten years.
Thus on a house selling for 5000 the
purchaser would pay $500 in cash and
make monthly payments OF s35 %.
Again, on a house selling for $500. The
purchaser would pay $50 cash and an
proximately $50 monthly for ten wears
Taking S25mOO0 as a basis Of the
total value OF the 500 homes az Union
Gardens their average value would be
5000. As this would include corner
properties, the average value Of the re-
mainder OF The properties would be
slightly less. Possibly $500 would be
a price for the average dwellings.
Mr.. WilmOth was asked II sale OF The
houses would be long delayed.
I'VE are most anxious 10 get the
properties or our hands as rapidly as
possible" he replied. I'VE wish 90 do
this so th3t we may take up the work
OF dispOslng Of hundreds Of other
homes wo own in the west BY clearing
the decks Of our eastern holdings we
shall have free hand 10 move with
those at a distance hope 90 sell off,ihe
houses either to the Liberty Housing
Company. or % dispose of them my
self for the Fleet Corporation as soon
as can do So II we can clear up the
whole project by June. ] shall be most
happy"
Tn, figures on which the selling
prices OF the houses, apartments and
stores f. predicted. are those arrived
at by the commission Of three real
estate men OF this city. who recently
appraised the Union Gardens This
commission was composed Of Henry
Hopes, rerreFenting the Emorg Ccy
Fleet Corporation: Edmund p Moody.
representing the Liberty Land Com
pony, and Col Weller Z. Siover presi-
dent OF the city assessment board rep
resentlng the public.
An appralsemeni was made OF each
NJ ihe prOnerties individually by the
commission and the entire data COM
bined in a report which was recently
sent to Mr.. Wlmoih. The commission