Evening star., 1938-01-01
DISTRICT BUILDING
d" IN 1887 EXCEEDS
1886 BY MILLION
$32,447,04O Valuation Fig-
ure Is Highest Total
Since 1929.
BY JAMES Y. NEWTON.


Although activity slowed consider
ably during the last half of the year,
private building construction in the
District during 1887 reached valua-
ton total of 32,447, ,o4O, the highest
figure since 1929 and approximately
q million dollars greater than last
year. The feature of the building year
was the large amount of residential
construction.
Predictions of experts are that the
recession which set in early last sum-
mer will continue through the first
quarter of 1888, but that later in the
year the market will improve and
building will resume the pace of a
year ago. They believe that in the
next three months most of the unsold
new houses now on the market will
be absorbed. During the first half
of 1887 building construction piled
up huge lead over the preceding year,
but this was largely dissipated by the
slump of the last six months. 1t is
estimated that there are 965 unsold
new dwellings now on the market
While this figure is large it is no
where near the record of 1900 dwell
tngs on the market at the end of 1927.
Despite the recession, the real estate
business of washington as a whole
enjoyed a prosperous year in 1887.
Sales were made at brisk rate during
a large portion of the period Large
properties as we'll as small changed
hands in healthy fashion This ap-
plies to commercial buildings as we'll
as residential. Building money was
plentiful during the year and avail
able at the most favorable terms in
the history of the business
Apartment Building Revived.
The year witnessed a continuation
OF great activity in construction of
one-family dwellings which started in
1885, and revival of construction of
apartments to a point comparable with
pre-depression years. However. the
total building valuation of the year
Gid not approach the 1925-1929 figures
due to an absence of commercial con-
struction on any large scale. There
we're only few office structures erected
in 1887, and most real estate men
familiar with the situation feel there
already is a sufficiency of Office space
In the city, although shortages were
reported in some quarters. 1t is
pointed out that the Federal Govern
ment occupies large amount of pri-
Vately-oWned Office space, and this
Will be turned back on the market as
new Government buildings are erected
IN sufhclent quantities to take care
OF private demands in the next few
years.
Apartments were we'll flied during
the year. 1t is estimated that such
buildings now have an occupancy
percentage of 1854, which is con-
slderably higher than the figure for
the rest of the country. Last year at
TINS time apartments of the city were
nearly SO per cent occupied. Consid-
erlng the huge number of rental units
placed on the market in the last -
months In nearby Virginia and Mary
land as well as in the District the per-
centage of vacancies is Surprisingly
small.
5,33S Family Dwellings.
A total of 1888 family dwelling units
was supplied by new construction in
1887. including both multi-familv
dwellings and single-fanily structures.
New one-fanlily houses built in the
year numbered 1879. while a total of
46l apartments with a capacity of
3,599 families were put up. However,
the amount Of residential building
was somewhat less than in 1896, when
new construction provided housing
Tor approximately 5000 families. The
totals for 1887 mentioned above in
clude unofficial figures for December.
as the building inspectors report for
the month has not been made public.
The largest Government pay roll
since the World War continued to
prove a great boon to Washingtons
real estate business, although during
the latter part of 1887 reports of cur
tallment of Government expenditures
and consequently curtailment in per-
sonnel proved specters that had con-
siderable bearing on the slump in ac-
.tlvlty. The fear of loss of job af-
fected the real estate market for the
first time in three years.
Great activity in residential building
was not confined to the District, as
almost as many dwelling units were
erected IN the nearby sections of Vir-
ginia and Maryland. A new all-time
construction record was set in Mont
gomery County, and figures in other
outlying section were almost as high.
tSee BUILDING REVIEW, Page B-2)