“Difficult Problem.” The Sun (1837-1988). June 19, 1936. http://search.proquest.com/hnpbaltimoresun/docview/543233673/citation/B78166F051BF450BPQ/67?accountid=10750.
The razing of the Preston home at Charles and Read streets, to make way for a parking lot, directs attention to the need for some new and affirmative policy for dealing with .property in such special “blighted areas” as that in which the Preston home is situated.
|Owners of real estate in districts that have become undesirable for residence, and in which demand for property for business purposes has not developed, have something to worry about, Carrying charges arc high and opportunities for rentals that will pay them may not be open. If left vacant, buildings deteriorate, values decline and owners see their holdings go from bad to worse. The same thing has become true of sections in the business district, and in many of these sections buildings have been torn down and the vacant space used for parking. But it is regrettable I to witness a similar development on so important a corner as Charles and Read and in such close proximity to Mount Vernon Place.|
The alteration will mean loss in the taxable basis of the city and, it may be, in the value of property in the neighborhood, with further effect upon the basis.
Indeed, it was fear of shrinkage in the basis, because of the extension of open-air parking spaces, that prompted the Mayor to ask the committee appointed to study new sources of revenue to consider the advisability of levying heavier taxes on parking lots. But the revenue problem aside, the extent to which property is being taken over for parking space presents other problems, and the city’s present lack of machinery for dealing with such developments is a proper source of concern.