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 1517 3rd St NW:
- February 1951 Evans, Levin and Taube sold one-half of 1517 3rd NW to Louis W. and Lucille H. Williams.
- February 1951 the Williams borrowed $3,525 from Colonial Investment Co. favorite trustees Abraham H. Levin and Robert G. Weightman.
- February 1951 Evans, Levin, and Taube sold the other half of 1517 3rd St NW to Mrs. Ethel W. Stanley.
- Feb 1951 Stanley borrowed $3,525 from trustees Abraham H. Levin and Robert G. Weightman.
- May 1962 Stanley paid off her mortgage.
- May 1962 Mr. and Mrs. Williams paid off their mortgage.
Another good ending. No foreclosure and mortgages paid off in 11 years.