Evening star., 1947-01-04
DHCExpects
Million Profit
On ; Projects
VirtuoIIy All Of
Vast D. G. Holdings
Now Liquidoted
BY Robert J. Lewis
Reol Exfofe Editor Of The Stor

Defense Homes Corp. expects to
come through with a total profit of
about s1,000.000 on the proposed
sale of darlington, Mclean Gar
dens and third housing project
in Bremerton, Wash.
The $43, 900 900 offer of two Texas
investors for the three properties is
the best of q individual and COM
bination. offers received for them
over a three-year period since all
DHC properties were placed on sale
In January, 1914.
That was reported today by Will
liam A. ziegler, DHC general man
ager, as check of the agency'5
records showed virtually all its
costly real estate holdings in the
District area have been, or soon
will be liquidated.
Igloo Type Unsold.
About the only properties left are
IL igloo-type experimental concrete
dwellings built several years ago on
an 18-acre tract along Lee highway,
two miles beyond Falls Church.
Even these houses, built at total
cost of about $91, 1000, have been
approved for sale to the. present
occupants. Pending a survey of
the site prior to the sale, however,
no price has been set on the dwell
tngs.
Mr.. Ziegler said he expected sev-
eral months to intervene before
the sale of darlington, Mclean Gar
dens and Bremerton Gardens-as
the Washington State development
is known-will have been completed.
The agency announced this week
1t had approved the $43 100000 offer
for the developments.
Mr.. ziegler said the Development
cost of the three properties totaled
SAT ,490,785, and that the net in
come from their wartime opera
ton, as of December /, 1916, was
$4,291,785 BY the time the con-
tract is closed several months hence,
1t was estimated, the Governments
net investment, after RFC interest
and taxes are paid, would be re-
duced to about $42,600,000, as COM
pared to the 100000 offer of
Leo F. Corrigan and Leland Fixes,
Dallas, Tex, which was accepted.
darlington Cost S35,396,640.
Mclean Gardens, Wisconsin and
Porter streets NV, has 728 apart
ments Of 21a to AZ rooms in 81
brick buildings, in addition to 1892
room; in nine residence halls, and
was built at a cost of $11 ,143, 734.
Harrington, two miles southwest
of the Pentagon Building in Fair
fax and Arlington Counties, con-.
tains 3,439 apartments of from one
to three bedrooms in 579 two and
three story buildings, and was built
at a cost of $35 1866
The Bremerton project OF 180
units cost $780, 1851.
First DIG property disposed of1
In this area was Villa Rosa, 71k-
acre estate at Massachusetts, and
Nebraska avenues NV, which DHC
acquired from the District and Fed
ersl Governments in trade of an
equal amount of land from the
Mclean site which the city wanted
for a school.
This property was sold in Febru-
ary, 1914, to Samuel Fig for $780,
900, DHC said. Mr.. Fig subse-
quently was reported to have sold
the property.
Chicagoans Buy Property.
A group Of three other properties
was sold September so to what was
described as a group Of Chicago
lawyers. including Maxwell Abbell,
Julius Epstein and Davis Janis.
Mr.. Abbell apparently is the same
man, who, with Peter A. Miller,
purchased the Willard Hotel in
April, this year.
DIG properties sold to this Chi
(See LEWIS. Page BID