New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-05-02
Home Building
Gains 454 r. G.
In Eight Weeks
Moderate Rental Expected
r,,rran Urges Liberal Loans
q Mortgages to Builders
Projecting improvements

rs.v the impetus of the building
80 ~hich began in New York City
-, 80. yebruary, after the enactment Of
-. t.x exemption ordinance, the con-
. - Of apartment houses has in
....,.d asa per cent. as compared with
- ..me period last year, according to
-..ords in the I'VE porouEhs.
u.roueh President Henry H. Curran
0wsnhsttar,. the sponsor OF the tax
o. a~s;nr ordinance, who made the
sssr rss nublic yesterday, declared that
tkase new apartments were de-
si - 10 fall within the $4,000 limit
$500 $500 in the statute, which allows
=, Gan exemption per room and repre-
s.rt.d homes for people of moderate
pss b;s statement on the subject Mr..
$3.50. - snpeals to those with money to
w., ssI1 On frst and second mortgages to
.sss r. the aid of builders now in an
s ssort to solve the housing problem in
a. shortest possible time. Mr.. Cur
.sr's Abatement follows:
arnr the first time in four years there
ara signs of general building OF
srsrtment houses in New York City.
Tsst week plans were filed in the five
Soroushs to take care OF $50 families
- snsrtment houses, as against forty
sour families provided for in the plans
fled during the same week year ago.
Fh;s spurt caps the climax OF steady
growth in this form of building since
shs tax exemption ordinance was
adopted on February 81.
BASED ON Moderate Rental Return
ar;gures for the first eight weeks
.,nee fsx exemption took effect show
sis srs for q total of 2,733 apartments,
= asainst total of only 493 apart
wsnts for the same eight weeks year
src This is an increase of asa per
rant The average cost of the new
nnartments planned is s4,689 and they
Are all designed to fall just within the
ssNso limit of the tax exemption ordi-
nance. Apartments built at the rate
bf $4,6s9 apiece represent homes for
people Of moderate means that will rent
At reasonable figures.
awhile the volume of homes that re-
suits from apartment house building on
auy substantial scale is essential to
early relief of the shortage of homes
IN New York, the better form of hous-
Ing provided by the little one and two
family houses is still in full swing.
Plans fled for this type of dwelling
du.ing the first eight weeks since
tar exemption will take care of 4,013
families, as against 1886 families for
the same period year ago, an increase
Of as per cent. The most casual in
spection will show that these little
houses-that come nearer to being a
home than any fat that was ever built
are springing up all over the city.
"The total number of families taken
care Of in plans filed since February
Is for all types Of homes is 6,746, as
against $3.50 for the same period q
: year ago. an increase of 1857, or 83
per cent over last year. The good
effects Of tax exemption are progress
over the same periods Of year ago
were 81 per cent at the end of the first
two weeks, rs per cent at the end Of
the first five weeks and now 83 per cent
at the end Of the first eight weeks.
Money Lenders Can Speed Cure
"These figures prove beyond dispute
that homes are being built in New
York to-day. The only question is how
soon we shall have enough Of them to
relieve the distress that still exists
from the shortage Of homes. The
answer rests with those who can lend
money on first or second mortgage.
VIII they do so sufficiently to bring
the early completion of these houses
that are planned and thousands more
We have only made beginning, and
the rate Of increase must grow If we
are to succeed in solving this acute
problem.
Il hope that those who possess capt.
tai will literally finance the builder
who is doing his bit by going ahead.
! nope they will also lend money freely
70 those Of our people who are so cour-
ageously undertaking to build and live
n their own little homes. Tax exemp-