Of the 10,457 families for whose accommodation residence permits were
issued, nineteen were to live in factories, stables, shops, or
business offices, three thousand six hundred and seventy-two (3,672),
were to live in 1,011 flats, to be erected at the estimated cost of
$4,903,513. The average investment of capital to furnish a home for
each of these families would seem to be $1,338, _plus_ the cost of the
land. 2,456 families were to live in 713 buildings described as flats
and stores, to be erected at a cost of $4,303,784, calling for an
average investment for each family of $1,752 less the cost of the
store, _plus_ the cost of land. It may be safely stated that the
distinction between these two variety of residences is in general not
great. If, therefore, we call the average cost of the flat the same in
each case, $1,338, _plus_ the cost of the land, we shall not be far
wrong. Neither do we err much if the value of the land is estimated to
be one-third that of the building. It would thus appear that 6,128
families were to be given homes representing on the average an
investment of $1,784. The owner of such property would probably demand
$175 per year average rental, and since rent may be reckoned as
forming one-fourth of the cost of living with these families, it would
follow that the 6,128 families now under consideration should possess
an average income of $650 or $700. This body of inhabitants forms a
full six-tenths of the growth of the City as the builders anticipated
it.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account