The big potential of the city fix-up market

IIHE POTENTIAL of the home I improvement market has never been more promising than at the moment with the impetus of increased interest in restoring vintage homes and the realization that inner city housing has its advantages.

Termed recession-proof, the average growth rate of remodeling for the next decade is forecast to run between 15-250/0. The trend to urban fix-up has been accelerated bY the rising costs of new construction and financing of new homes. In addition, the high cost of transportation has made homeowners more aware of the advantages of living closer to work and public transportation.

Story at a Glance

Remodeling and rePair busi' ness llourishing ... interesl in Victorian mansions, advantages of urban life accelerate relurbishing of inner citY homes ... building products business profits.

Materials for remodeling and repair are expected to continue to have a dominant influence on the building products industrY. Georgia-Pacific has reported home remodeling accounting for l79o of its total sales.

G-P chairman Robert Flowerree has characterized the remodeling and repair business as "growing very rapidly and it should continue to pick up as costs of new construction continue to go up and more people choose to renovate older homes in choice, close-in locations. "

Summarizing a nationwide trend, a merchandise mgr. said "Sales of treated lumber for use in urban areas have increased approximately 300/o a year over the past five years, a surprising fact considering that other lumber use, primarilY new housing, has been down in the same period."

The purchasing agent for another large building center chain reports "Our sales of wood into the urban market have increased between 2090 and 3090 each year over the past five years, as more and more people are building decks and fences, and enjoying outdoor living. One reason is people are becoming aware that they can buy treated lumber, which resists termites and decay, at a lower price than untreated woods such as redwood or cedar."

Aside from individual owners who are buying and renovating urban homes for their private use or speculation, there are many historic preservation groups working to have older homes accepted bY the National Register of Historic Places. Homes rescued and renovated by such groups are not necessarily destined to become museum pieces. While some of these wonderful old houses become Private homes for large families, many are remodeled into aPartments or condominiums. Others are transformed into restaurants, bed and breakfast inns, or quarters for specialty shops.

The "This Old House" series presented on Public television through a grant from Montgomery Ward & Co. first demonstrated the rescue of a l2O-year-old home as a residence. The second Production concentrates on the transformation of a sprawling Victorian mansion into five condominiums. Viewers follow step by step every asPect of the remodeling Process. The 27-week series may be seen on (Please turn to Page 39)

APARTMENTS in this old building are reached by an outside stairway ol wood. Vintage multiple unit buildings as well as single family homes are being renovated as people return t0 urban living. The older city house (lower photo) was converted into two apartments with balconies to provide privacy for residents of both units.