The Pleasantville press., 1927-05-03
Great Wealth
Comes From
Shore Lands
DEVELOPMENT In And Around
West Atlantic City Equal
to Acres of Diamonds
FOUNDATIONS ARE
MOST SUBSTANTIAL
$500. 900 Refused For Tract
That Once Sold for s282.5O;
Shores of Lakes Bay Prove
to Be Fine Home Sites

Tales of the pot of gold at the
end of the rainbow, Of buried
treasure and acres Of diamonds
may well be laughed at in some
places but not hereabouts. The
willy pirates who once sought this
coast as a refuge never dreamed Of
the potential value Of the shore
land that they steaIthily trod. or
they might well have left the high
seas to peace, and settled here to
proclaim its merits to the world.
This buried treasure lies in no par
ticular spot. 1t has no death-bed
charts. written in blood and sealed
with a terrible vow. Rather, the
treasure is thousands Of acres
broad. the secret charts are maps
Of realty brokers.
In 1896. about fifty years ago,
tract of salt land adjoining West
Atlantic City was sold to an adven-
turous buyer for s282.50 One year
ago, 100000 was offered for the
same tract, and the offer was re-
fused.
From time immemorfal until al
most recently the lands had been
considered almost valueless. They
were merely means Of approach
ing Absecon Island and appareasay
had no other worth than as the
sight of hundreds of gaudy bill
boards and advertising signs that
lined the right of way Of the rail
roads, and the boulevard. No one
thought they would be of any use
except just that. and not until the
enterprise of Atlantic City people
began to push the city out over
the lands on Absecon Island and
show that they could be filled In
and used as building sites, did
people dream that they would ever
be anything but a wind-swept acre
age of tall grasses.
Popular opinion had il that this
land would not support heavy
buildings and that any structures
erected, would sink gradually into
the muck. Then somebody dis
covered that the bottom Of the soft
soil extended but short distance
down and that beneath this was a
solid foundation which would sup
port any weight.
Immediately the value of the
meadows began to rise and it was
seen that Atlantic City could ex-
tend far inland by use Of these
lands. A comparatively shallow
filling of sand or ashes on top was
found to be sufficient to transform
the useless ground into good build
ing sites and the city gradually
extended block by block to the
edge of the Thoroughfare.
The City of Atlantic City acquir-
ed a portion of Great Island. about
173 acres, bought in 1889 for 5000.
Today this acreage has increased
in value a thousandfold, and today
it is held at 100000. The eatire
island comprises 371 acres.
1t is now proposed to create on
this island a permanent exposition
similar to worlds fair, where
nationally important manufacture
ers may display their wares.
Two hundred years ago beach
property on Abseeon Island was
valued at cents an acre. while
Great Island was considered a
detriment. Today the price OF an
acre of these latter lands is set
at s3,125. a total value for the
entire tract In excess Of a million
dollars.
Benjamin r. Fox showed that
beautiful homes may be built along
Lakes Bay and as pioneer started
tremendous development
In like manner frontage Of de.
veloped streets built over these
lands between Atlantic City and
Pleasantville has become Of great
value with every prospect that the
Albany Avenue boulevard will
command $1,000 front foot.