New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-01
New York's Bic
Cooperative Offices
Interest Nation
Builders and Space Renters
i'll Other Large Cities Ask
Park Madison Builders
for Details of Scheme

The Park-Madison BUILDING. the pro
posed S40,000,000 cooperative Office
structure. the LARGEST ever planned ana
which will cover three blocks JUS
north of the Grand Central Terminal
has produced the widest interest IN
business ard building ere IS through
out the entire country. The propose.
made by the Weaver Crawford Corpc-
ration, which is to build the structure,
is so ditfcEent from the construction
scheme under which the entire countr
has been developed and occupied that
men who build and men who rent space
in buildings have had their eyes
opened to the possible advantages Of
cooperative construction.
For decades in New York. Chicago,
Philadelphia. Boston. California and
elsewhere builders have. as individuals
or in combinations. anticipated com
mercial space requirements. The man
who used space then rented ile IN
ished project. No one ever advanced
suggestion for changing the system
which has produced our commercial.
structures. 1t was workable and eco
nomically sound.
The space shortage developed by the
curtailment Of private construction
during the war, the necessarily slow
reversal OF the productive energy OF
the country back TO the making Of
things of peace and the lack Of money
for construction purposes due to the
attractivcness of other Investments de.
veloped a space condition which could
not be met adequately by the old
system.
The pressure brought on builders
from business concerns. large aud
small. for additional space, and the
lack of interest displayed by folks WITH
money in new construction, led inc
WeaverCrawford Corporation. Doug
las L. Gilman & Co, and others 70
attack the problem, determined 70
solve it.
The cooperative scheme Of constrac-
ton presented itself as the most feas-
ible to meet the Office space situation
It had worked we'll in producing homes
and there was nothing that suouid pre-
vent it from working as well N pro
duclng business homes on the same
principle as applied to the cooperative
apartment, where a majority Of ten
ants provided the money to produce
the building
The idea has made a strong inpres'
sion on interests in other cities OF the
country, who are confronted with con
dition OF rentals and space shortage
as acute as that in New York
Major s. Fullerton Weaver presiden'
Of the Weaver Crawford Corporation
has received q number Of communica.
tions from men in other big cities o.
the country, asking for information, o.
if he would be Interested in erectlng
in their cities buildings on the hnaA'
cial .ub of the Park Madison Building
Lyman Root. manager OF the Toron'.
office of the Sun Insurance Office o.
London and president Of the Canadl 81
Fire Underwriters Association, mas
written to Major Weaver:
"As doubtless you are aware. there
is a great shortage Of OFFICE accomm'
dations IN Toronto. This city Is gro"
ing very rapidly and there has bee.
very little building here Tor The pas,
few years. Rents are exceedingly nisi
and available space almost unoota,"
able Many of the insurance coiap@nls'
have talked for some time of PuttiH'
up building such as the Park Mao
son Building is to be. Your scheme Z
new one TO u, however, and al
wondering # | can ask You TO give u
little outline of your plans ans
whether or not you would be intere s'eV
IN building Of the kind mentioned i
Toronto"
The editor Of THE American Cor
tractor published in Chicago, hs'
written the Park Madison Builders tina
the idea they are trying TO put acros'
has IN II many possibilities detahe-
explanation of which would be OF ~
terest to the construction industry !
the United States.
Several chambers of commerce an
boards of trade in cities where otil0
space Is at a premium. have writts'
TO Major Weaver. asking for informs
ton on the Park Madison plan o. cree.
ing a mortgage free skyscraper, ].
which space may be purchased outrigse
at rates approX.mating one hall o. ID
prevailing rental charges in the upto~'
New York business and financial zone