The Birmingham age-herald., 1923-12-09
BUSINESS SECTION EXPANDS STEADILY
Widening Rim Of Commercial District Features City'S
 Growth

'"The best year since the war" is the way in which Robert Jemison. IT, of Jemison company, sums up the real estate activities of Birmingham during 1923. A year, he says which has witnessed d steady and uniform expansion of the business section, the conversion of a large amount of semi business property to business property, and the greatest residence construction program in five years.
 "The uniform spread of the busiz ness district in all directions has been tho outstanding feature of an active year in real estate circles" says MT. Jemsou. As the business limits have stretched out to the north, south, east and west, large amount of new seni-business property has been created at scattered points con tiguous to the widening rim of ths business circle.
 "The market for business property throughout the year has been con sistent1y maintained. The growth has been healthy and uniform. De- veIopment of new business areas has been accompanied by no value in- flation. no wild discounting of the future. Sales have been made on basis commensurate with tangibIs values and the certain knowledge of what Birmingham Is going to be a few years hence. Merchants have 5 the trading territory and acquired home sites for future occupation on property which hitherto has lay dor mant on the edges of the business center.
 Trend Not HnOwz.
 No one can say that the buainszs district Is drifting either this way or that. J. Blach & Sons, for exam pie, purchased a splendid home site at Fourth avenue and Nineteenth street. Burgers at Fourth avenue and Twentieth street, and other storea at points on Fifth, Sixth and even Seventh avenues, north.
 "The steady growth of the autcrne- bile industry has led to well definsd development on the Southside, and the construction of many substantfais homes for automobile and accessory establishments. Louis Pizitz has completed the first unit of his spSsn-z did store on Second avenue and Eighteenth street. This and other developments In the west have brought an even spread in that d. rection. The same activity is to be noted on the eastern edge of the former loop district.
 Sales of residence property to bona fide home owners has been the largest in any five-year period in Birmingham's history. It is also safe
  building by home owners. This ao- tlvity has been stimulated by the continuous flow of money from in- surance companies and private in- vestors into Birmingham during the year just ending.
 O o 0
 Mortgage Loans High.
 Our office has placed over s4,noo.a 900 in first mortgage loans for our eastern connections besides a large amount in first mortgage loans for private investors. Moneyed interests away from Birmingham are sold on the Idea that Birmingham's phenorn- enal population increase Is not | mushroom affair, but permanent condition. They are showing that confidence by placing their money here"
 Birminghani has not yet reached en even keel. between demand for homes. office buildings and stores and the supply available, in the opin- ion of MT. Jemison. who concurs with many of the leading real estate de- velopers on this point. One and pos- sibly two years, he believes, Will pass | before an even alignment is reached. He is confident in view of this fact and the general business outlook that the real estate activity which has marked 1923 as an outstanding year will extend through the year Co | come.