Evening star., 1946-01-04

Businessmen Explore
Willingness Of Private
Cupitol to Invest
Private enterprise in Washington
has made its first group movement
toward financing off-street parking
facilities by forming special tenn
porary committee composed of BUSH
nessmen to spearhead investment OF
private capital in parking garages.
The men forming the committee
have given no assurance they will
invest the money, however, unless 1t
can3be demonstrated that they can
be assured a fair profihand will not
have TO compete with Government
owned or subsidized parking garages.
The committee was formed at a
special meeting sponsored by the
keystone Automobile Club and held
Yesterday in the boardroom of the
Perpetual Building Association. The
club decided to call such a meeting
'at its December board meeting.
Baltz Heads Committee.
E. G. Baltz, building association
official and chairman OF the Key
stone Automobile Clubs Parking
Committee, was named chairman of
the special committee, while George
E. Keneipp, manager of the Key
stone club, was named secretary.
The meeting wass attended by
members of the Motor Vehicle Park
ing Agency and by 1t. Comdr. c. F.
McGarvin, parking expert. who is
now preparing studies on which the
agency will have plans.
Comdr. McGavin told businessmen
present yesterday his studies would
be completed in about three weeks
and that by that time the parking
agency should be able to recon-
mend specific locations where need
for parking is most critical. The
committee will meet again after |
studies are completed, and it is
intended that its members stimulate
interest among investors on specific
agency proposals.
Charles H. Tompkins, Washington
builder, told the group he felt
private capital likely could not
afford to pay high land costs in the
downtown area for parking garages
per Sc, but that if store and other
space which could be rented profit
ably were included, private capital
could afford to invest.
He said he contemplated building
several such garages himself and
described one he proposes for II
kalorama road. near the Dorchester
Apartments, which will consist of a
skating rink, 26 bowling alleys and
two floors OF parking space. Another
garage already built on I street near
the Veterans Administration Build
ing is success, Mr.. Tompkins said,
due to restaurant which is heavily
patroniZed
May Draw Insurance Funds.
George Ray of Randall H. Hagner
d. Co. said he believed some in
surance companies would invest,
especially If additional profitable
facilities were incorporated.
Mr.. Tompkins said he did not
believe shortages of building ma
terials would affect the construction
OF parking garages to so great an
extent as homes, and said he saw
no reason why such garages should
not be built now. provided no Gov
ernment competition is involved. He
said he felt basic construction costs
would not be materially lower for
four Or five years.
The approximately 20 businessmen
present agreed that the money is
available to build such facilities,
William H. Press, executive secre-
tary of the Washington Board of
Trade, said it was planned to devote
the next membership meeting of
that body to discussion of parking
solutions.
Attention to Shoppers.
Comdr. McGavin said the primary
concern in his studies is to relieve
congestion for short-time parkers
patronizing the city's downtown
stores. The latter as the main prop
under real estate values, he said,
and If decentralized to a large ex-
tent will lead to blighted areas.
Among those serving on the COM
mittee are Irving c. Root, superin-
tendent of National Capital Parks;
Maj. H. A. Lamberton, manager of
the Star Parking Plaza; B. Buckley,
representing Frank R. Jelleff; w. E.
Schmid, chairman of the Board of
Directors of Julius Garfinckle Co.;
John Bell, executive vice president
OF Peoples Drug Stores, Inc; Ed
ward D. Shaw, secretary of the Mer-
chants and Manufactures Associa-
ton; DR.. H. C. Dickinson, William
S. Canning, engineering director of
the Keystone Automobile Club;
John Ecker of the Capital Transit
Co.; Robert Scholz, architect; Rufus
Lusk, president of the Washington
TaXDayers, Association and 7 |