New-York tribune., 1921-05-08

The stage has been reached in the
history of Pelham Bay Parkway which
marks the start of the full habitation
OF this attractive city and country sec
ton of New York City Trains Of the
Lexington Avenue subway line, the
same that stop at Wall Street, City
Hall, Grand Central and many other
important transit points in Manhattan,
are now stopping at Pelham Bay Park.
The extension Of this route has heen
pushed rapidly north from Westches-
ter Square, which section was placed
on the subway map Of the city last 0c-
tober, As trolley lines operate from
this point through the entire north
east corner Of the city, Pelham Bay
Park neighborhood is now reaping the
benefits of real subway transit.
Builders, investors and small and
been active in this neighborhood for
the last few months. They did not
wait until rapid transit had actually
come before buying choice locations
along the interpark highway for de-
velopment with homes or in anticipa-
tion Of the demand that was bound
to be created for sites when the sub
way line was pushed into that neigh
borhood
Spectators are now waiting for the
subway to exploit this section, for his
tory shows new transit always benefits
neighborhoods it taps.
Cheap Land win Help Builders
Tax exemption will be a second
stimulent to realty conditions in the
locality, for the fact is well founded
that the subsidy which the city has
offered to home builders in the form
of an exemption amounting to 81 500
and more will start the land boola ball
rolling along the Parkway even l,.fore
the subway is in full operation. The
Investment purchasers of the last few
weeks have been made by folks who
are going to take advantage of this tax
exemption and build homes.
The Offering next Saturday by Bryan
J.. Kennally of coo lots Immediately
adjoining the parade grounds at Pei
ham Bay Park, New York's greatest
waterfront playground. with the Lex
ington Avenue subway station right at
the property, Will benefit builders, in
vestors and spectators purchasing lots
at their own prices. The lcSv prices at
which land Will be obtainable should
greatly reduce the total cost of con-
struction.
Lots Near Great Playground
The property to be sold has been
held for many years by the present
owners and is in a section where are
to be found golf links, tennis courts.
/ baseball fields, bride paths running
tracks, swimming pools. beach bathing
boating ard sailing, ice skating in
winter and every other outdoor recrea-
tion.
Sf,00G.000 Athletic Field
On Labor Day additional recreation
facilities will be available. IL is ex~
pected that the athletic field, swimming
pool and stadium which aye being built
IN the park by Mrs Isaac L. Rice and
/ her family as memorial 10 the
memory of her husband, Isaac /. Rice.
| iinancier and philanlhropist, at cost
cf 81 100000, Will be ready for use.
Folks who live in the Pelhams, which
are neighbors of the Pelham Bay Park
away and Pelham Bay Park. use Golf
links and tennis courts and other
! recreation features Of the park. The
Pelhanls are among the finest home
settlements along the north shore of
! Long Island Sound. Here are to be
found the houses of prosperous pro-
| fessional and business men costing
from $4,000 to 100000, and on land
that cost considerable more than the
prices at which Pelham Bay Park
property can be purchased to-day. The
| Pelham Bay Park, the territory along
the parkway and the Pelhams were all
part and parcel Of the estate OF Lord
) Pelham the first native noblenaan In