Evening star., 1944-01-29
District Investors
Cool Toward Offer
OF U. 5. Properties
BY FRED H. MoRHART, j

ny rhCD h MOhdAhl, Jr.
Washington investors and realtors
thus far have been cool toward the
Defense Homes Corp. offer for sale
OF Federal holdings in the District
and nearby areas, it was reported
today by the larger firms engaged in
| the real estate business.
However, according to members
OF the Washington Real Estate
Board, number of insurance COM
panies, banks and realty investors
from out of town have indicated
an interest in purchasing the prop
critics. Offers of purchase, it was
explained, will depend on indie
pendent surveys of property values
here which admittedly are close
to inflated" values.
If local money is to be invested
in the Government housing projects,
it probably will be through combines
Of realty investors and agencies, 1t
was pointed out.
@Realtors Pleased.
1t will take some months to work
out the legal technicalities for sale
Of the various Government holdings
and when this has been completed,
it is questionable whether local cap
ital will go into the venture of
trying to handle the Government
built properties on a low-cost scale.
Realtors here were somewhat
pleased that step had been taken
towards getting the Government
out of private fields" Meanwhile,
it was pointed out, there is feel
ing locally and nationally that there
must be some form of Federal finan-
cial aid for postwar building. Though
still highly controversial subject,
many of the Washington realtors
believe modified forms of Govern
ment backing will be necessary to
rehabilitate the industry.
Liquidation Of Defense Homes
Corp, If consummated, will be the
first major step on the part of the
Government to remove itself from
the private building and manage
ment field.
Projects Named.
The local projects offered for
sale to private buyers include Fair
lington. Mclean Gardens, Naylor
Gardens, the Meridian Hill Hotel,
Lucy Diggs Slowe Hall, George w.
Carver Hall and II Fairfax County
houses.
Meanwhile, there are several pro-
posals pending on the building of
community shopping centers by
private contractors and developers. |
If foreign capital" comes into the
local picture to take over the De-
fense Homes Corp. projects, there !
may arise competitive situation |
in which the local operators will |
control the marketing areas and
out-of town investors will own the
homes of potential customers. Real |
tors here, however, feel outside cap /
ital would be welcome and that it. /
and local investments could work I
hand in hand
DHC Lauded by Nelson.
Gratified by the announcement /
IIlIS WEEK llldb IIlE DSlellSe f1OlleS /
Corp. is ready to sell its Is self-sup- /
porting-type housing projects, in
which there is an investment of
ST. 900, 900, Herbert U. Nelson, ex-
ecutive secretary of the National
Association OF Real Estate Boards,
today said the DHC was setting a |
good pattern" -.- -. !.
Instead of the Government going |
into real estate as a permanent busi-
ness, this recent move indicates a
wholesome turn of events" Mr.. Nell |
son said, "and is great encourage
ment to all private enterprise.
Realtors In general will approve
this decision. The Government does
not belong in the business of housing |
people