Evening star., 1927-10-05

tion Hall site much more desirable.
Another advantage Of the Conven-
ton Hall or mid.city site, he said. is
that 1t Is already recognized as mar
ket center.
"If the Center Market and Farmers
Market were closed out tomorrow"
said Mr.. Driscoll, "the business would
60 largely to the present market at
Fifth and X streets"
Moore Presents Data.
J. Francis Moore, real estate oper-
ator, presented the results of an an
alysis of the square bounded by
Fourth, Fifth. X and l. streets, made
by him for the Mid-City Citizens AS
sociation at the suggestion of former
Engineer Commissioner Bell. He pro
Guced group of maps illustrated and
colored to show the character of the
improvements on the square and the
ownership of the lots. He said the
recommended area for the farmers
market has an overall dimension of
375.16 feet or X and l. streets and a
frontage of 323.S3 feet on both Fourth
street and the alley, the measurements
being taken from building line to
building line. Within this area there
are Is lots, for which there are Al
owners.
Each owner, or his representative,
has been visited by me-" said Mr..
Moore, land l have to report that this
area can be purchased for $659.170. Of
this amount it was necessary to esti-
mate some of the figures and my total
estimates involved S73.500 of the prop
erty, which included out of the Al
owners"
Mr.. Moore said that within the area
in question there are 1O7, 1862 feet of
privately owned property, which could
De bought for the figure named. This
gives an average square foot price of
s612. he explained, the individual
square foot prizes ranging from S2.55
to SIS. Eliminating four prono"tie'
which Mr.. Moore thinks are held at
prices out of line with the adjoining
holdings, the average price would be
S568 per square foot.
121, 1,488 Square Feet.
Taking into consideration the alley
in this area, but not including the
north and south alley" said Mr..
Moore, "the entire area from building
line to building line would be 121 ,4SS
square feet, and again using our total
price Of $659,170. the square foot price
for this would be $5.42."
He said that the parking areas to
the sidewalk lines would undoubtedly
be used around the Farmers Market,
which would increase the total avail
able area to 143,497 square feet, and
give an average square foot price of
$459.
''Of course. it can be argued that
you cannot base your square foot price
q.
owned" he continued, "but 1 submit
that the total usable area should be
taken into consideration in considering
the problem before you.
From my experience in real estate
values In this location, would say
that the prices obtained are reason.
able. and while there may be several
Of the Al owners who have set high
figure on their property, yet in the
majority of the cases where the figure
is high they have taken into consid
Grafton the equipment used in the con
duct of their business and the loss
that would be sustained by removal
from their existing locations.
Sums Up Reasons.
II wish also to state that neither
the firm of realtors whom I represent
nor one of their clients, nor any per
son within my acquaintance, has pur.
chased by option or otherwise, any
Of the properties located within this
area or within the vicinity"
Mr.. Moore summed up the easons
why he believed the Farmers Market
should be located in the midcity
area as follows: Central location
adequate street car facilities, adequate
boulevard highways and side streets
leading to the property, the fact that
1t is already recognized as a market
district, convenience to the business
district, proximity to railroads, adapt.
ability to expansion and the fact that
It Is sufficiently removed from the
Mall so as to assure no infringement
on the proper development Of that
area"