Evening Star Newspaper, May 8, 1926, Page 13

REAL ESTATE EARLY 1925 BUILDING RECORD ALREADY SMASHED THIS YEAR Dizzy Pace of Speculative Construction in Capital Is Causing Conservatives to Wonder if Operations Are Not Exceeding Bounds of Development. BY KOBERT J. COTTRELI It is Building in Washington last ched the huge tc est month of the vear placed the total fon in the D; 10,000 < houses and by the public. vday knowledge that there are y empty apartments, vet week fter week new ones continue to spring up, ranging in_size from 50,000 to $2,000,000. Why? answer is generally given—‘ea | money.” ~ Money is easy in New | York, in ll the' great flnanciai cen ters and is available for projects here. The question is being raised now: | ‘Is easy money for the development i Washington going to cease belng | beneri thing for the National | ital?” “Is it going to be the| | *will o’ the wisp’ that will lure many operators to overexpanmsion and to| | ruin No matter how easy the money, return is to be made to the | | lenders some day and the borrower pavs interest. That Washington is a rich field for | development is conceded by all. Its development is ssured, but its past has been on of stability and investors have been a steady, sure growth nd many bankers and real estate men want it to continue so 26 More Apartments. onth 26 apartmments were at a cost of §4,333,000, this in perio of four weeks. About 1,102 sw building projects were authorized | during the past 30 days. The general opinion among sound | and conservative financiers and build- | s is that there are some large con- ‘us in Washington who are doing a Iding of all types. but who it judiciously and after vears of oxperience and study. Many othe they feel. just riding the wave of prosperity and floating in with e money without studying the results. | The market and valueg in Washing- | ton are sound, and thes> men feel that | it should be kept sound and that ex- cess huilding by unwise speculators should be di aged in order that| the Inevitable steady growth of Wash- | ington may continue on a firm ba: | which amount of construe- rict since January 1 at was the peak v of Wash- d’of m- 1of 10, | made that vears as ' and when the e showing a t many predietions 825 would stand 1w the record When 1 13 wer v with plenty - sold. as well he abate- red the ved prom financial however, with a that nths of $3.000,000 in building beginning of the vea with genuine relief amc inent in local buildine les. After a shor » ted v ppurt » “ohrua has pla irst the p ahead of the with the most such as the oject truction £70.000,000 ch with n have wth and ow, how- inst too improver ever, the them won- perhaps ruction is_not 1g somewhat too 1 of the pace of development ¢ city. The dizzy pace of residential con- n will appar when it the ent pace | CODELTIELOD oS | Building Analysis. ticularly in the apartment field, hous- M o An analysis of last month’s building ing accommodations for 50,000 more | B e provided here | authorized shows the following new by Christmas. | projects: Tast year was a p vear and 8,000 units were built far this vear | 2200 have been constructed, or about 500 more unlts than the same period last vear. In 1925 a apartment unite were buil this year 014 have bee more thar 00 more than the period 1 vear. Apartments office buildin: have been er the city, and the only section of the building industry that maintains any analy study of conditions here—namely, the operative builders, who erect private residences—have checked their operations. This is re- checked its significant. The construc- tion of houses, while still large, has dropped from 500 for the first four months of last yvear to 1,220 for the | same period this vear. There is no use denying that there are a large number of unsold houses on the market and the organized speculative builders largely are act , for the ancing and unsold houses is a serious whic reflects not only on interested, bu upon the subcontractors, the man- property getting sc be il D PRICK. o Number g {00 50:000 | and | 9.000 | 1t all | (institation) . CONCRETE ) Homo Dweliings Apartment | Repairs | Garages | Store ... Warehouses 950 | 8,000 | 7.000 | 20.000 | 500 | R00 Dwellings . Sheds »blem the firm banks, the Garages Repairs well o : | Motors .. It is true there are a nimber of|Ejwators & operations now selling fast and there | Boilers has been an upward trend in the es market recently, but this is| generally indicated in the very cheap |y properties and in developments that have proved unusually attractive. Situation Carefully Watched. Thus the house are care fully watching the How about the apartments the question discussed all in TULSA MEN'S VISIT FINANCING PROBLEM TS DISCUSSION, BOOSTS CONVEN“ON‘ AWAI w11 4B Centoal mopts: imsore | Impetus Given Work of Locali Specialists at Tulsa Conference. 2 following summary shows the on of Imyprovements among_ the Te- | tive sectlons of the District of Columbia | es of same builders ituation his town, bu over oftices, i Committee Handling Trip of Capital Realtors. Consiterabie dinpetus Has Been'given | The)iproblem SoEFAnancing iis ad to the activities of the local conven.| mittedly a great central problem in | tion committee, which king ar- | regard to industrial real estate. Tt | \gements for the Washington real-| iy pe a. central topic_before indus- fars who are to attend the annual con- | Yfia) Ten] estate specialists who will | ventlon of the National Association of | "t Vi ™ ola., June 811, in | Itealtors held in Tulsa June 7 to 11th| .onnection with the annual conven- | by the visit here last Thursday of the | {jon there of the Natlonal Assoctation | <necial delegation of 150 of Tulsa's|or Real Estate Boards. | insiness men. | David L. Wickens of the University "This delegation, which is touring the | o¢ Chicago, who has been .working | Fast and Middle West in interest of | with the research committee of the | Tulsa, contained several members of | assoclation’s industrial property di- | the Tuisa Real ate Board Who| vision in collecting facts as to what | were active in furthering the cause of [ are the practices most frequently in | he convention In that city. This gath-| yse in regard to the financing of in. annually attended by about | dustrial and real estate development, altors from all parts of the! will give the results of this study be country and is the largest annual fore the division at its closing session gathering of business men in the Mr. Wickens s at present making United States. More than 100 local survey of the financing of industrial realtors already have signified their| real estate in the Chicago district. intention of taking this trip. J. H. Van Viissingen of Chicago, The party will leave by special train | chairman of the research committee siaborately equipped with all modern | of the division,also will speak at th improvements and transportation fa- | session. Harrison S. Colburn of New cilities. Under the chairmanship of | York, former chairman of the di i Clifford Bangs of the convention | vision, will address the division on committee the Washington realtors | advertising. industrial real estate of- will leave on the evening of June 5| ferings. | nd will return about the 12th of | Irving D. Chandler of Chicago will ne. speak on the use of data equipment Mr. Bangs of the Real Estate Board | by the industrial real estate specialist joined with the committee of the|in the building up of his business. | ashington Chamber of Commerce, et which welcomed the Tulsa delegation| The present readjustment should and_entertained them during thelr | run its course without developing into | brief stay of seven hours in the Na-|a business depression. An increase tional Capital. in manufacturing output should fol- — any easing in April money rates Pessimism caused by recent develop- ments is in danger of being overdone Har omia Service. is . Many famous film actresses donate thefr discarded costumes to the Sal- vation Army. Woodland Drive Sites Massachusetts Park —are becoming steadily more limited. Washingtonians of long standing are continually amazed at the splendid growth in this: iine residential community, which includes all that remains of The Triangle of Increasing Values between Connecticut, Massachusetts and Cathedral avenues. Wooded and rolling sites for individually designed homes are now available the firm under whose management this restricted area has been <uccessfully developed into one of the city’s fine sections, we are singu- larly prepared to furnish accurate information. Park Office: 32d street and Cathedral avenue. Middaugh & Shannon, Inc. ESTABLISHED 1899 Riggs-Semmes Bldg., Dupont Circle, Potomac 2200 - | which ended | convention here and whi | urban and rur | sons that T v e o . G0 Toening Star ATURDAY, MAY 8, PROGRESS ON SOME OF THE STAR’S MODEL HOMES Upper, left to ri) lie det structed by the Stambaugh Construction Co. The brick house It by Hedzes & jects sponsored by Th Lower, left to righ chusetts avenue, being one or all of the nine pr will explain any details asked. ched house being erected by L. K. Brueninger & Sons at Thirteenth and Alaska avenue. t Wynnewood Park, near Silver Spring, Md. Wesley Heights under construction by W. Much can be learned in regard to the construction and problems of house bui iddleton Star. Directions to the house will be found on one of the succeed ng con- . and A. Miller. The stone house at g pages. Competent men in charge Towns of Future ate Regard to NEW RIEQUIREMENTS OF LIFE STRESSED IN CITY PLANNING| | Should Be Laid Out With Deliber-| All Present and Future Needs. John Nolen Tells Institute of Architects. i One of the outstanding papers read | beauty. Except in remote sections the before the annual convention of the American _Institute of s fifty h interested a number of offi aged in the development of W4 ton, read by John Nolen, president of the Na- tional Conference on City Planmng. In discussing city planning in gen- al, Mr. Nolen said, in pa s towns and cities are cons Iy coming into existence, either ually or deliberately. There are sub- tantial reasons why the increase in population, which in the United States amounts to over a million a ar, cannot and should not be taken care of entirely in or immediately around existing citie hys the ques- tlon may very properly be asked “Why not deliberately plan build new towns and cities, And the two rea- suld cite of major im- communi als e an as- and portance for building new ties are th First to take ¢ new territ, which for one re or another is ed up, as in the c the second is to quirements and new planning. New Requirements Tllustrated. “In the United States in the last half century or less new requirements of city life can be illustrated from the following subjects, all of which direet- ly affect city planning: The steam ailroad and the trolley car, the au- tomobile and motor truck, changes, radical changes often, in building methods and materials and new stand. irds in municipal engineering. There are also new habits and .tastes of the city dweller. Home life is different and the housing problem different. Big hotels and apartment houses have come into existence. A different, if not a wider love of nature has de- veloped. Country clubs have become almost a necessity of city life. It is only in the last 50 years that public and re- by se of Florida meet the new new standards parks and playgrounds have come to | have ? a city's layout, |fundamental planning the parts of a | be an integral part of including wild and natural reserva- tions, beaches and other open spaces. “Especially important are changes in leisure and its use, about vacations, both Winter, outdoor games al recreation generally. Summer Working Day Shorter. he working day 50 years ago was two or three hours longer than it is today e Saturday half holiday was unknown. Sunday was looked upon as primarily s ; for religion and rest, but not for play. ing city, large or small, finds sible today to provide adequate open aces for its well recognized require- ments. The problem of properly em- ploying the new leisure depends di- rectly upon new planning and ade- quate and suitable open areas for the requirements of recreation. Summer vacations are now an established habit among millions of people and Winter holidays are becoming more stomary. “Another change, and one which dl- rectly affects architects, is that there < a need for a mew form of urban Rose Roofs Are Always Ready —for any sort of weather WHEN The way to be sure that everything is all right is to let us give inspection—and the at- tention it may need—and then no matter what comes—it won't come through your “Rose roof.” Our service is reasonably rendered — and the modest bill budgeted to your comvenmience in payment. | | both | | 2 harmonious expression of new city | ideals. re of | ason | rom time to time open- | {the land | 0ld simplicity and charm of American Architects, |towns and villages has largely disap- rinth annual | peared, but a new form of beauty has taken its place. What has been termed the “mauves decade” is is not far behind us. We are still| pioneering; we are finding ourselves or trying to do so. We are setting up | new standards of beauty; we are grad- | v breaking away from the old, | iually taking on’ the néew. | tage an Awkward One. | “This stage is naturally on awk-| ward one, and not generally charac- | terized by beauty. At the moment the | i | | not yet amenities of city life have been sadly | sacrificed. New forms of architecture and landscape architecture, new en- gineering and new town planning should unite more and more, as there is now an opportunity te do much in “The six outstanding features of a new town should be “1. A new town should have the ight location, the right site geo- iphically. This is a matter of pri- i ce, and closely related e, ond regional plan- | ning. “2. The local plan for a town should be based upon topographical condi- tions, and be worked out in right re- lation to rallroads, main highway, water frontages, or other important controlling natural features. “3. The character of a new town should be rightly conceived with ref- erence to its purpose and the use of The plan_should recognize ress the different require- | nd e: | ments of different cities, whether they 1 larger views |rigidly by law or otherwise the ulti- and | mate size of a town, some approxi. and new ideas in regard to |mate idea of its size should be kept in and sports and physi- \mind when the original plan is made. No_exist- | it pos- | there’s a down-pour you are on “pins and needles” unless you know your roof is in shape to withstand it. are primarily industrial or residential | or recreational, etc. The plan should | also reflect topographical and climatic | conditions. The application of this | principle to Florida, especially the re- | sort cities of Florida, is obvious. Must Consider Size. “4, The probable size of a town must | consideration; otherwise the | town not easlly changed. cannot be satisfactorily determined. Even though there is no intention of controlling “5. There is likewise good reason in modern municipal requirements and the new standards of cities for the laying out and cdnstruction of “satel- lite towns" or more independent and complete new towns and cities. This inating field for endeavor and for imagination and resourceful- New towns should be comprehen- town planned. This means a omplete street system, provision for railroads and water fronts, civic cen- ters, parks, recreation, public schools and other municipal structures; it means res dential property of various classes, well located industrial prop- erty, retail and wholesale business sections, zoning regulation of building development, etc. “The laying out and development of new towns should be broad in the pro- fessions employed. If creditable r sults of a high order are to follov | cent solytion of modern urban or ru | problems connected with the distribu | ed an understanding of the working | | ing with the same problems, in mar i respects from real estate, busines: Furthermore working alo on which secured.” , finance and law. is to be said for se imporant lines action can be the architect, the engineer, the pe architect and also the la and those of other allied professions must unite in a joint enterprise——one | which should have variety, harmony nd_unity. “Town planning is nét a for all our ills. On the other no permanent, far-reaching or time Home Owning Stressed. Maintaining a high p individual home owners is one of the searching tests that now challenge the people of the United States. present large proportion of families Community drifting; nothing gained | that own their own homes is both the foundation of a sound economic and by aimless, haphazard develgpment. | e aehmical skill in the various plan. | Social system and a guarantee that ning professions is indispensable, but | 0Ur society will continue to develop Sonsbined with this skill there 15 need- | rationally as changing conditions de- mand. al | tion of population is possible without a_large measure of town and city planning. Nothing s to be gained t of soclal and economic forces and the ways in which regulation and law may be enlisted in behalf of justice and better development for the benefit of all. Nothing is to be gained by the failure of the planning professions ta co-operate cordially with each other and also with the related groups deal- Use of Hardwoods Explained. Those hardwoods used for standin ind gum: f heech and most finish are floors, oak, maple, bi ometimes tupelo are used. Cypress, walnut, sycamore and chest nut are a few of the other domestic of ' woods used for finishing commonty birch h, the point of view 2 MM 2 See These Homes Sunday! Chevy Chase Low Record Do Co 4200 Block Jenifer St. The Greatest Value on the Market Today The lowest priced homes in Chevy Chase. Think O’il! Delight Only | 3500 Cash ful. well built, six-room and bath new low record price of only $9,350. In beautiful, smart Chevy Chas for your family and your little ones. Note These Features Six rooms—three bedrooms Hot-water heat, Electricity Hardwood floors Porches front and rear Light, dry concrete cellar Tiled bath, built-in fixtures Cedar, linen and other closets Large air space above sleeping rooms Complete and labor-saving kitchen Pantry with window and ice box drain Electric outlets in every room Lots 100 feet deep to an alley Yards fenced in and sodded Finest type brick construction ZAHHIHIHIES A (T Open Sunday ‘and Take Connecticut The | HOME & GARDEN 1926. 1STAR’S HOMES DEMONSTRATION ‘ PRAISED BEFORE ARCHITECT inaj. Raymond A. Wheeler Tells Members of Insti- tute Plan Serves to Raise Home Owners’ Standards and City’s Beauty. Before a gathering of u large num { her of the most eminent architects of | sponsor a model homes demonstratior | the country, who were attending the | inaugurated a campaign that wild | fitty-ninth “annual convention of the |greatly st the council in fts work n Institute of Archite | The education of the public in attrac | the Chamber of Commerce of the | tive architecture and proper planning | United _States Building, the ideal | of residences is striking at the heart homes demonstration being spensored Builders erect the by The Star was lauded as one of the d and wher outstanding efforts that have been |the demand for better homes becomes made in the past few years to bring tent, better homes will be buil | about the beautification of the Na | “The place of the architect in this | tional Capital. . tion is of primary i Maj. Raymond A. Wheeler, Ass gain the architects and ant Engine ommissioner and ck ashington came to thw man of the demonstration supervisory | fore and took up a difficult proble: | comimittee, who was elected honora 1l and tact that has no member of the American Institute of {only guaranteed the success of the Architects this week for his contribu- | project, but also has served to bring {tion to civic development and fine | the architects and builde arts, told the members of the institute | touch and understanding in an address that The Star's work is | same time give the public of genuine public interest, and is serv- | understanding of the part which eu ing to create in the public a demand |one plays that it, aiso, will appreciais for better architecture in their resi-|the advantages of dences that will reflect itself in a pret- | not only well by tier Washington. Mas signed. - his address, said, in p: ¥ i sy Resulls Messured in|Co-operal RS ArCRicery € “For ears the architects of the ,..mr,\ '(!,',", r’: .“" losdlaawlanayicounicil baveils enNOEIs o and i SFictior g insistently to secure better chi- | e T e o ectural treatment of buildings. Their | ©COTOMIC production-if it can comments are sent to the individuals o S 0t inia G concerned and thus eventually per-| oo {'\”‘ ss themselves meate the building profession. The |FINess of living and pride of results are, of course, measured h_\-.’(_'“’? LIS Hhost convenien and the co-operation and willingness of the | (V4 Seneral arvangement of the individunls affected. Again, improve. | 20 of the grounds as well, the det ment depends upon the attitude of the | [y & @ bt deddl individual. riths t “But, a few months ago, The Wa i gPach Waldy aE N en et monotony and mediocrity with REALTORS TO MEET & e THURSDAY EVENING sponsored by served the purpo: the ects will | William E. Herren, Extension Di- rector of National Group. to Be Speaker. ington Star, by a determination to Amerl of the problem. | homes that people dema do of b ore thar me own ou nd Arouse ent« in hap poss at sh nine of home ar will have and the work « not have be pes vain.” These were rec much chapte: tic by Maj the mmen . uch ¢ 3 of anization is pa ng with the Operative Builders 4 ation and independent builde in producing a series of types homes that will reflect on the genera aspect of Washi In connection wit lopment of sler said e work of imp: nd there emarks Wheele The Washington Real Estate Board | will meet at the Wardman Park Hotel Thursday night at 8 o'clock. William 5} ren, extension director of the ation of Real Esta* » guest of honor and ripal speai local board b active during the past educational matters pet real estate profession. and it is ex-|is most effective pected that Mr. Herren will give the ample has | Washington realtors a number of in-|much can be accomplished by teresting suggestions, which will be|lation to secure an improvement developed in the educational program |beauty and planning is a questi to be carried out by the board in the |but there is no doubt that the indi National Capital next Fall. | vidual can secure it for himself and Last year educational programs ‘hls neighbors. Jere conducted at the Jocal Y-po| Planning Commission Created the board. has just created a_gen Besides this address, a number of planning commission for Wash matters pertaining to the civil devel a ecommission s esser opment of Washington and the reai estate field will be brought b i for action ever members of the be re expected to |10 give the force ittend this meeting. following which | “The objection there will be an entertainment and |of divided and d buffet supper. i (Continued on ement has or much vet to b part of h, it the duty of the ernmer e, however, individs s been extremely vo vears in ining to the his ¢ when free ope: and gisla and that is aw to its plans st the system ed functions Sixteenth Page.) rd E e s A s S S 49,350 semi-detached brick homes at the e—in environment of the right kind Why Go On Paying Rent? When you can buy on such low terms. The rent you are now paying will buy vou one of these very desirable homes— homes that will meet vour every require- ment. Come out Sunday—see the homes, study the locality, and yvou will be con- vinced on the supreme values and the rapidly increasing values of property. Close to the highest point in the Dis- trict of Columbia—near the Chevy Chase playgrounds and all conveniences. No more at this price when these are sold. Daily Until 8 P.M. Ave. to Jenifer St. Thence West to 42d St. or Wisconsin Ave. to Jenifer St., turning east to Houses AF AN 813 15th St. N KER Owners and Builders Main 2690