The New York herald., 1921-01-16
MEMBERSHIP OF $4,000
Small Payment Scheme Az
ranged for Dwellings to
Cost $4,000.
LONDON IDEA DEVELOPED
Commercial Buildings and
Theatres Segregated From
Dwellings.

number of men who have been closely
in touch with city officials for one of
the largest real estate developments
ever undertaken in this city. The idea
is to take over the site of the old
Jerome Park RESERVOIR in The Bronx,
now owned by the city, and adjoining
property, on which will be built 1000
dwellings of five, six and seven rooms.
The scheme involves the expenditure
of more than $4,000, 900 to be advanced,
those furthering the project hope. by
several insurance companies.
The plans have reached the point
where a committee known as the
United Citizens Home Committee has
been formed with Walter Stabler,
comptroller of the New York Life In
surance Company, as the head. AS
ISOLATED with Mr.. Stabler on the COM
mittee are George Gordon Battle, Allah
Robinson. Justice Spiegelberg of the
Municipal Court and Commissioner
Mann of the Mayors housing commit
under the laws Of this State on jan
uary 10, and has been making its
headquarters for several weeks on the
ninth floor of the Board of Health
Building, sos Pearl street. DIR. Royal
S. Copeland, Health Commissioner,
also had indorsed the scheme.
To Relieve House Shortage.
Basicly. the idea is to relieve the
housing shortage through scheme that
will enable persons with small purses
to buy their own homes. The committee,
if plans go through, will act as overseer
Of the development for years, Will regu-
late what parts will be given over to
business and see that none or the re-
strictions are violated. IL the owner or
house decides to dispose of the prop
erty title will revert to the committee.
whereupon 1t will be transferred to an
other member. The owners of the 1000
houses to be built will be members OF
the committee, the membership OF which
now is said to be upward OF $4,000.
The civic community plan of London.
which recently was studied closely by
Dr. Copeland, will he followed in the
proposed Bronx development. The tract
to be used is now condemned land and
had been lying idle since the completion
Of the Ashokan dam project. 1t is bounded
on the south by West 195th street. on
the north by the junction Of Sedgwick
avenue and Mosholu Parkway. on the
west by Sedgwick avenue and by Jerome
avenue on the east The plan is to cut
this tract up into 1908 lots of 25x100
feet each.
Members of the committee may pur-
chase n lot for $500 by paying cash or
on the easy payment plan. The MEM
bers cannot start to build until they
have the lot paid for. There will be
twenty different exterior designs for the
houses. but the floor plans will be stand
ardized. All will be built of brick.
either flush or sponge, and will have
shingle or fiat roofs. Real estate ex-
perts are said to have declared that
when the community fiourishes the lots
will be worth $4,000 each. Present
plans are to allow one person TO own
but one lot.
Theatres Also Planned.
All of the houses will be two story and
cellar They will have all improvements.
including gas and electricity. hot water,
sanitary open plumbing, tiled kitchen
and bathroom and laundry In the cell
lar. Each house will have It's own heat
ing plant and there will be community
generating plant that will supply the
electricity. The office and commercial
buildings will be segregated from the
dwellings,. as well as theatres the organi-
zation purposes 10 construct as part Of
the community plan.
Five room houses will cost $4,000.
six room houses $1,000 and seven room
houses $4,000. Each house will be paid
for In twenty years on a monthly amor
tization payment plan. The owner OF
a five room house will pay s2s.14 n
month as rent This sum will go tow
ard the payment of both principal and
interest The latter will average about
an per cent. per annum. Owners OF
the houses will have to pay the taxes,
which will be light IL those furtherlng
the project can get the city authorities
to exert the powers granted them by the
emergency legislation.
The rs 900 members OF the committee
are said to include policemen. fremen.
employees OF the Health Department and
other city departments. as well as street
railway employees and Post Office enl-
ployees. Membership costs 81 year.
This money is being used 70 defray the
committees expenses. The Equitable
Trust Company is the committees de-
pository. officers of tho City and Sub
urban Homes Company also are inter-
ested In the project. which II is believed
can be accomplished without the floating
Of a municipal bond issue.