Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-06-23
CALLS AUTO VITAL
I FACTOR IN REALTY
Author Tells National Con-
vention Motors viii Con-
tinue to Change Values.
Special DISPATCH TO The Star.

Special Dispatch 10 The star,
LOUISVILLE. KY, June 23-'The
automobile has done more to rearrangs,
disrupt. spread out and relocate realty
values than any other element in the
history of real estate in America" &C
cording to Stanley L. McAfichael of
Cleveland. author Of book on real estate
subjects. But this influence. chiefly felt
within the past decade, is only begin
ming to operate, Mr.. McNfichael told the
National Association OF Real Estate
Boards here this week.
The super highways which are being
built in many large cities. the double
deck streets which are coming to Chi
cago and New York arc simply evil
denceS of what the automobile is doing
to real estate.
But American cities need not be APP
palled at the cost OF the great new
arteries which they must create to take
care Of this increasing motor travel,
Mr.. Michael said. For new automo-
bile highway should pay for itself inside
OF five years by the new taxable values
which 1t will create. Streets that re-
ouire widening and extending should
pay for themselves in the same way in
year or two, he declared.
"Changes Win Continue"
IF we all knew ten years ago as
much about what the automobile was
going to do to real estate many of us
would now be niilionaireS. But millions
are going 70 be made in real estate in
the next decade just as they were in
the past" Mr.. McAfichael said, The
tremendous redistribution of land values
which has followed the change in hab-
its which the automobile has occasioned
win so on, and the wise investor will
take that into account.
Here are some of the rules which this
authority suggests as good ones for the
investor who wants to make money In
real estate:
/. Watch for new street opening
projects which will develop into new
main highways. Potential opportunities
for new business Turk along their bor-
ders.
2. Keep your eye on strategic loca-
tions in outlying areas where main
highways cross. They may be mere
country crossroads now. Five or ten
years from now they may be business
centers, with land worth hundreds of
dollars per foot front.
8. Consider the opportunities for
automobile storage garages in densely
populated areas. especially downtown in
cities See that land values are as low
as possible when building such struc-
lures and incorporate stores on the
ground floor, If at all possible to do so,
Pick extraordinarily deep lots with rear
exits. if possible. Rear and upper space
for auto storage win pay good returns
On top OF store rentals.
Storage for Cars.
4. In planning the erection Of large
new buildings Of almost any kind, pro-
vide cellar storage for cars
s. In building homes. begin soon 10
think of the three or four car garage
idea. Most families now have two cars
and the visitors car must be left out IN
the alley.
s. Provide a garage in connection
with any new commercial. Office, theater
or hotel structure you may be building
for this purpose Acquire a piece Of
and on a rear street, but with access
20 your development.
T. In laying out new business centers,
n outlying centers, be sure to provide
mple space for parking cars. possibly
ows Of stores. or in large garages
rected on inside land. The housewife
I'll appreciate place TO park her car
hen she does her shopping for grocer
IS
8. Remember that certain types of
s-rvice-rendering business, such as iaun-
RES, dry cleaning establishments and
re repairing concerns are now inter-
ted in locations on automobile boule-
ards. Patrons leave their goods on the
az downtown and pick them up on the
'ening trip.