Evening star., 1946-12-26
Builders Ready
To Erect Homes
For200Veterans
Will Provide Houses
For Williams investors
At Reduced Cost
By Miriom Ottenbera

W SVhub0" SttSbDSfS
Details of a plan to provide
homes at reduced cost to the
nearly 200 veterans who in
vested their savings with George
H. Williams, real estate operator,
were announced today by Ed
ward r. Carr as president of the
Home Builders Association OF
the Metropolitan Area.
The only veterans who are affected
by the association-sponso plan
are those who deposited $500 to
81 900 with Williams on the promise
of homes. They have been unsuc-
cessful in their efforts to get their
money refunded, less than 80 of
nearly 200 homes promised have
been started, and Williams has been
declared bankrupt.
Two Courses Studied.
The association sponsored homes
would either be built as special
project by new corporation Of sew
eral builders or would be distributed
among projects now under way in
the District, nearby Maryland and
Virginia
The savings would result through
cooperation of lending companies,
material suppliers, sub-contractors.
title companies and several member
builders of the Home Builders Asso-
citation, Mr.. Carr said.
Speaking for the association Board
of Directors, Mr.. Carr said it had
been decided to start fresh on hous-
ing projects specifically for these
veterans rather than try to complete
the houses started by Williams at
Gwynn Park near Clinton, Md.
Mr.. Carr said it was believed .
fresh start would save time because
/ of probable delays resulting from
putting the Williams assets through
the machinery of bankruptcy.
Claims Not Affected.
"Our hope is that by this method"
Mr.. Carr said, 1--WE can get the hous-
ing at the earliest date and sufficient
money can be saved to make up a
substantial part of the deposits tied
up in bankruptcy proceedings" He
explained that the claims of veter-
ans for return of their deposits from
Williams would not be affected by
this plan. At this time it is not
known how much can be salvaged
for the veterans through bank
ruptcy proceedings.
Mr.. Carr, who spent Christmas
talking to dozens of men who might
be able to help the veterans save
money, expressed the opinion that
savings to the veterans through the
special concessions of builders, lend
ling interests, title men and materials
men, among others, would amount
to not less than $500 and under some
conditions might be considerably
more
The plan, which Mr. Carr will out
line to the veterans at meeting in
the Veterans Service Center at
O'Clock tonight, embraces several
different proposals. Here they are:
l. A new project would be started
by new corporation sponsored by
the association A committee of
builders and veterans might be
necessary to select a suitable piece
of land on which to build. All the
savings promised by lenders, builders
and suppliers would go into reducing
the cost of these homes.
I0G Discount Mentioned.
2. A limited number of homes ear
marked for this group of veterans
would be built in projects now
under way. Several builders have
agreed that if they can get the same
concessions, they would contribute
to the savings by giving discount OF
10 per cent or more on their own
costs.
8. At least one District builder,
whose semidetached brick homes are
nearing completion, has agreed to
take care of between 80 and 40 OF
the veterans at reduction in cost
of $3.50 on the finished home. Since
the homes are nearly finished, this
builder would not have the benefit
of savings son costs. Mr.. Carr
pointed out, however, that the vet
Grams could get into their homes
quickly and they would also benefit
from whatever concessions the title
companies are willing to make.
Mr. Carr could not be specific on
the exact prices the veterans would
be asked in the new projects because
of the uncertainties of present con-
struction costs, but he was sure that
the $500 depositors would wind up
with enough savings to put them
back where they were before they
gave Williams their deposits.
He said it might also be possible
for them to get some ready cash
out of the plan. He explained that
the Veterans Administration has
agreed to appraise the homes at
their true value If, fer instance,
the VA appraiser set value Of
So 1000 on a home the veterans were
able to get for $500, Mr.. Carr said,
the veterans would be able to bor-
(See WILLIAMS, Page A-180
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