Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-08-01
REALTY MEN FOREsEE
BIG BUILDING BOOM
Expected Many Homes VIII Be
Erected Along Line of Monu-
mcnt Avenue Extension.

Inc real estate agents OF Richmond
arc not complaining-not even 4 lit
tic bit-ibout dullncss in their lne
OF business. There Is always lull
IN the good Old summer time and
the ovcrworkcd agents rather enjoy
1t. II Is true that the ;!gh,neas OF
the money market is Keeping many
spectators Idle. and the high cost of
building material and labor. Is dis
couraginS some would-be home build
crs, but even these things are no,
disturbing realtors to any great cx-
tent Tor AL or them are looking for
Richmond. "
The action OF the City Council in
pahsinS the Fuller ordinance. appro-
np"nir the necessary funds Tor the
across and beyond the Belt Line.
which ordinance was passed and
signed last week, was the main topic
OF talk among agents. They say i;
means great development in that sec
t!on. a development that will increase
me citys revenues through taxation
ana tend TO head OF any contcm-
pIated Increase in the general rate
OF property taxation. This develop
'nent VIII also go good way towards
relieving the home congestion that
now an!!cts tho city.
Itcsidcncc BuildIng noom.
II Is expected that the property
along extended Monument Avenue
WI! be bought up and built upon by
yards and extensive lawns. that is
TO say larger frontage vii! be in
hHlged In. and l00-foot and 200-root
lois VIII be the order OF the dag. This
is pcrccpt!ble decline In the cost
OF building material and labor by the
tinc the avenue IS opened up. and
incidentally something OF a residence
NI-ti
existence.
Alderman Fuller is being congratu-
lated on all sides on his success in
getting the ordinance and appropri-
alton OF $4,000 through.
Another suburban dcvelopme
something akin to this Monument
avenue extension. Is also very pleas
ing TO the realtors. For some weeks
opening up OF another far West End
thorouEhfare which is TO be known
as Libby Avenue. This new avenue
begins on the Cary Street Road nearly
opposite the residence OF William Nj.
iiablLston. three blocks east OF the
eastern line OF the Country Club prop
erty; and has been completed in 4
northern direction to Monument Az
enue extension. The trees have been
cut, out for a further extension Of
Libby to Broad street road and plans
are being completed to extend 1t to
northward by Morrison Street to and
through Bryan Park and to the
Brooke Road at Bellevlcw. When this
work Is completed as CONT mpla ted
Libby Avenue will be the longest
cross boulevard in the West End or
anywhere about Richmond. and, of
course 1t will soon be dotted with
suburban homes.
Demand for Homes.
Tho real estate business OF last
week, like that OF several weeks
past. wa3 largely confined to resi-
Dental transactions, and some sales
were made. y great many more
would have been consummated IL the
residences were on the market, for
there continues to be most active de-
mand for anything In the residential
line that can be delivered at once or
within any reasonable length of time
The demand is for somewhere to live
and is not confined TO any class OF
homes. but extends from the humble
cottage to the palatial home or man
sion. Tho urgent inquiry takes in
everything between these.
There are several deals on the
string involving business property on
Broad and other streets and in the
manufacturing sections OF the city
and South Richmond, but SO far as
could be ascertained none Of these
deals were actually closed last week.