New-York tribune., 1921-03-21
Home Building
Boom On Now,
Says Curran
Manhattan Borough Presi-
dent Cites Figures Show
ing Big Increase in Opera
tions Over a Year Ago
Urges Loans to Aid 1t
Financing of Little Homes
Here Is Highest Pub
Nc Service, He Asserts

nc ScrvlCes lie Asserts
A boom in home building under the
impetus of the new tax exemption ordi-
nance is indicated in figures complied
by the different bureaus of buildings
in the five boroughs for the two weeks
succeeding February 25. the date of
the adoption of the ordinance. Henry
II. Curran, Borough President of Man
haitian, sponsor for the ordinance, who
made the figures public, said there was
an increase of over G1 per cent in
building plans filed this year, as COM
pared with the same period in 1920.
In giving out the compilations Bor-
ough President Curran declared they
indicated only the beginning of large
increase in home building all over the
CITY as result of the tax exemption
ordinance. The Borough President
made an appeal for funds to help those
who would take advantage of the ordi-
nance and build home. He asserted
that an yone with money to loan could
perform no higher public service at
this time than by giving prompt and
generous heed to the crying necessity
for more homes.
Il have been at some pains to gather
data from the five Building bureaus of
the greater city," said Borough Paesi-
dent Curran. "because ! was anxious
to ascertain just what would be the eff
feet of the tax exemption ordinance
When | first drafted the measure last
September, right after the Legislature
IN special session. had passed the en-
ablihg act, was told by many that such
an ordinance would do no good. The
same charge was repeated again and
again during the long fight we had to
get the ordinance passed by the Board
OF Aldermen. / am glad to say that
the first results justify all we urged in
its favor.
Boom Already Under Way
Figures for the two weeks from
February 26 to March IL show that a
home-building boom is already under
way. Back in 1920 this particular two
weeks period produced plans for homes
Tor 666 families. In 1921, however, the
same two weeks have produced plans
OF homes for 1906 families, an increase
over 1920 OF 40 families, or 611a per
cent. Out of the 1,076 families who
will live in these new homes 7OS of
them will be housed in one and two
1amily houses, as against 36S in tene-
ment houses. Apart from the increase
IN the number of homes, the fact that
nearly two-thirds of them are likely to
house people who own their own little
homes is particularly satisfactory re-
suit OF the tax exemption ordinance.
In addition, it appears that almost
every one of these thousand homes will
cost In the neighborhood of only $4,000,
which is the maximum exemption from
taxes allowed by the ordinance.
ut must also be remembered that
things in the building line take time
to move. Plans of construction, finan-
cial arrangements, including the choice
and purchase of a suitable site, cannot
be made in day or week These splen-
did figures are only the first sign of a
great building boom in the erection of
homes. If this boom continues as it
has begun-and l believe it will-the
and work in New York City will
eventually find rent relief.
AT this time | desire to make
public appeal to everybody who can
lend money for building operations. to
give generous and prompt response
TO the person who seeks his or her aid
IN the building of home. No finer
public service can be rendered to-day
than the financing Of thousands of new
little houses that we must have at
once In New York if we are to stop
the backslading in health, morals and
all that goes to make up civic we'll
being, due to congestion in living quar-
ters. Returns on the money SO in
vested are substantial and safe and
they bring, besides, a great benefit in
the happiness, comfort and good citi-
zenship that more homes insure to our
city.
Saving on Taxes Large
Let it be remembered that no new
home can enjoyathe benefit of tax ex-
emptlon for ten years unless it's con-
struction is actually begun before
April l of next year, 1922. With tax
rate of nearly three cents on the dol
lar the saving in ten years will be
from 80 to 40 per cent of the home
This insures the safety of the invest
ment against possible further fall
in cost of buildings.
II believe that only in the construc-
ton OF more houses scan the lack O!
nomes, with Its menacing train of evils
be remedied. | believe that this tax
exemption ordinance will effect =
remedy, lasting and complete. And
hope that all public spirited citizens
will help in fastening The remedy and
making it permanent. After all, even
our great problems of obtaining ade.
quate transit facilities and more
schools must take second place when
compared with the question of homes
for our people.
"lf | had accomplished nothing in
my whole term OF office beyond the
drafting of this ordinance, which fur
nlshes an incentive for the building
OF those homes, | would feel that those
two years had been we'll spent"