Evening star. [volume] (Washington, D.C.) 1854-1972, 1955-12-28
Potomac Plaza
ProjectCa||s
For Job Bids
Work Set to Stort
On 500 Million
Development
By WILLIAM A. MILLEN

OeVelOperS OF LIE FOIOk1dC
Plaza 500 million development
in Foggy Bottom today called for
bids for foundation work on the
first unit Of the project.
They Immediately followed up
yesterdays action by the Dis
Itrict Commissioners In removing
their project from the urban re-
newal area in that part Of the
city.
F. Wallace Dixon. architect.
OF the firm of Dixon g. Weppner,
said bids for the excavation, con-
crete work and mechanical work
that must 60 in below-ground
will be opened on January IL.
/, This will be in the Potomac
/ Plaza Offices. 2415 Virginia ave-
niue NV. He said plans for the
first unit are completed. Mr..
Dixon said the contractor. Hage-
man. Harris Co., Inc, builders.
will construct the cooperative
apartment building, first unit in
the program.
Speeds Work
Edmund j. Flynn, real estate
man. said the Commissioners
action removes the final road
block in the program. It means
private enterprise will be able to
move ahead without having to
consult numerous Government
agencies. at various steps in the
development. The first unit will
go in near Virginia and New
Hampshire avenues NV.
The project runs from Twen-
ity-fourth street, Virginia avenue
NV. to the Potomac River and
covers the old Washington Gas
Light Co. property there. Early
action by the District Commits
sioners in issuing a building per-
NIT for the first unit is antici-
pated.
The District Commissioners
acted. as / presumed they would,
in the best interests of the Dis
trict Of Columbia not to throw
any roadblocks in the path of a
500 million DEVELOPMENT" Mr..
Flynn declared. I'm real estate
taxes alone 1t will produce close
ito 50 million in income and un-
told millions from people en-
gagged in business in the area.
THE decision OF the District
Commissioners was whether 1t
was an advantage to have a
pheasant in the hand rather
than two sparrows In the bush.
We never had any doubt what
the Commissioners attitude
would be.
Encouraged by d. C.
1--WE have received nothing but
encouragement from every eche-
Ion of the District Government.
Now that this final roadblock
has been removed. we are con-
lfident the development will
mushroom into the growth that
has been projected for 1t. Its
influence on the adjacent prop
erty will be tremendous.
I'VE have already succeeded in
obtaining buyers for more than
ISIS million worth of apartments
for the first building Of this
project-a cooperative apart
iment building. We intend to
build this as a criterion Of what
lis to follow.
"It is important to note we
number among our purchasers
the McLachlen Banking Corp.
which bought the commercial
frontage on Virginia avenue for
a branch Of their institution.
Also important is this corpora
Ition's application for approval to
the Controller Of the Currency Of
the United States. which met
with prompt and satisfactory re-
sponse-it was approved.
| "We consider these two fac
tors Endorsements Of the sound
ness of our cooperative plan
which we are now applying to
our 45th building in WASH
ington. The plan has been in
operation here for IS years with
out single failure.
1.-THE loan commitment for
-