The Washington Sanitary Improvement Company (WSIC) was a late 19th century charitable capitalism experiment that ended in the 1950s. This blog started looking at the homes that were supposed to be sold to African American home buyers, after decades of mainly renting to white tenants.
Looking at WSIC properties they tend to have a pattern where the properties were sold to a three business partners, Nathaniel J. Taube, Nathan Levin and James B. Evans as the Colonial Investment Co. for $3 million dollars. Those partners sold to African American buyers. There was usually a foreclosure. Then the property wound up in the hands of George Basiliko and or the DC Redevelopment Land Agency (RLA). Then there were the odd lucky ones who managed to avoid that fate.
Let’s see what happens with 1523 3rd Street NW:
- December 1950 (recorded Jan 18, 1951) Evans, Levin and Taube sold one-half of 1523 3rd St NW to Elizabeth Y and Fred Russell.
- December 1950 (recorded Jan 18, 1951) the Russells borrowed $4,250 from Colonial Investment Co. favorite trustees Abraham H. Levin and Robert G. Weightman.
- December 1950 (recorded Jan 18, 1951) Evans, Levin, and Taube sold the other half of 1523 3rd Street NW to Delilah W. and James P. Young.
- December 1950 (recorded Jan 18, 1951) the Youngs borrowed $4,250 from trustees Abraham H. Levin and Robert G. Weightman.
- December 1959 Delilah Young’s name was removed from the deed due to divorce.
- May 1960, Mr. and Mrs. Russell were released from their mortgage.
- May 1963 Mr. Young (and ex-wife) was released from his mortgage.
- November 1990 widow Elizabeth Y. Russell (Fred died 8/23/1985) sold her half to James P. Young, bringing the house under one owner.
This house managed to avoid the usual WSIC problems. There were no foreclosures. There was no opportunity for George Basiliko to buy any part of it, nor did the DC Redevelopment Land Agency nor any of their private partners have anything to do with it. It had a good outcome.