' Reosons Reveoled for Phenomenql Aportment-Building Boom Now Burgeoning in Southern Colifornio

New evidence of a record-breaking boom in apartment building in the Los Angeles area was reported by The Los Angeles Examiner from the August summary of the Research department, Security-First National Bank of Los Angeles. During the past two years, while tract building in the area was cut in half, says the Summary, building oT apartments and other multiple-family structures has climbed to an all-time high.

Although the shift was evident in 1956, the real upsurge came this year, it said, During 1957's first seven months, permits were issued in the Los Angeles-Long Beach metropolitan area (L. A. and Orange counties) Ior23,89l dwelling units in apartment or other multiple-structures. tUnits in multiples, the Suinmary points out, rose from 22.3o/o the first quarter of 1956 io a3o/o the first quarter of. 1957, to 46.9o/s the second quarter of 1957, and to 5+.2% this July.

An analysis shows apartment-building is on a general increase all throughout the region, with the San Fernando lalle;r accounting for about one-third of the L. A. city total, the Hollywood area one-fourth, and the Wilshire area onetenth.

Le,ading cities with dwelling units in multiple structures the first seven months of this year include Los Angeles. 10,573; Long Beach, 1327; Santa Monica, 1044; Anaiieim, 7.Q!; lnglewood, 555; Glendale, 496; Gardena,494; Downey, 410; Santa Ana, 393, and Hawthorne, 323.

The "typical" apartment currently in construction is described as a 2-story, walk-up, frame and stucco structure of ten to 16 units, conventionally financed-most probably by an insurance company.

Among the reasons given for the apartment boom were:

High population gains; down and monthly payments retarding homebuilding; some lenders and builders switching from tracts to apartments as more feasible; apartments can be built in areas rvhere land costs bar single dwellings; time and traffic problems causing some commulers to move closer to their work; and various conditions which have discouraged building for about 27 years, creating a deficiency. It was also noted that apartment-building and selling offers tax advantages as a capital gain.

C. C. Dly-Kiln Club Meets

^.A regular -meeting oi the Central California Dry Kiln Club was held at the Michigan-California Lumbei Comlany,.,Camino, California, September 8. Elvie Erickson, dry-kiln superintendent at Miihigan-Cal, arranged the following program:

_ Tgu_. of the operation, including tr,r'o-sided band mill (which i: 9"" of the most modern in the country), the battery of 18 dry kilns, and the remanufacturing plant. Recent improvements of particular interest were the-new Nicholson log debarker and slab-chipper at the mill and new end coating and stamping machine at the remanufacturing plant.

12:00 to I :3O-Lunch at the Camino School.

1 :30 to 4:00-Business meetinS and Technical meeting. Guest speaker was E,. D. Marshall, former director of the Texas Forest Products Laboratory, Lufkin, Texas. and now a forest products consultant. Tht! general topic was ,,Kiln Tune-up and Maintenance."

(Tell them you saw it in The California Lumber Merchant)

SINCE r876

Sufflpntfu 7u*e Uep/rLl

-so tbat yoa can depend. on tbe latest publisbed. rating, Twice each ueek you receiue notifcation of bundred.s ol ap-to-the-ninute iterns abou, nau) concerns, cbanges in cred.it ratings, fre losses, d.eatbs, cbanges in ownership and. otber lacts tbat afiect credit and. sa\es.For conaenience tbese TVICE-A-VEEK Sbeets are combined. into a Montbly Consolid.ated. Supplement, elininating the necessity ol cbecking preoiously publisb ed. supplernentar! matter.