[Letter from I. H. Kempner to Thomas L. James, May 1, 1953] Page: 1 of 2

                                
Those. L. James                                     May 1, 1953
Subdivisions
I have yours of the 30th and shall try to talk to you over the phone
today.
ly attitude in the matter is that our policy should be to set prices
that will not deter but will attract buyers and prompt improvements.
We should seek to have the buyers brag on the reasonableness of the
prices, encouraging quick development and thereby effectively ad-
vertising our layout.
I am in full accord with your idea that on Oyster Creek we should re-
duce our prices approximately 10% on lots 6, 7 and 8. If lots 6, 7
and 8 could be re-arranged into four lots with 60 feet frontage on
the road and approximately 110 feet frontage on the creek, I think
this property would sell at the total indicated on your map.
Now on Horseshoe Lake, I cannot be optimistic about realizing the
prices of $8500.00, $8600.00, $10,500.00 on any of the acreage sub-
divisions shown. I personally would be inclined to set a maximum
price on this property of $8350.00 to $8900.00 on lot 14. I would
rather see them sold quickly than run the risk of having the high
priced lots drag and we probably have to reduce them later. Re-
member on this property we furnish nothing except a roadway. They
have to install all other facilities except possibly electricity.
They have to provide their own wells, sewerage disposal and fire
protection. The sooner we can sell all these lots, the sooner the
buyers will start on the development of the property they purchase
and become residents of Sugar Land, patrons of our shopping center.
You may reply that the reduction in price suggested will not move
the property much more rapidly. If that is the determined judgment
of you and others vho are familiar with the appeal of the property
to prospective buyers, with the inquiries you have, let's go ahead.
We want to get started.
I. H. Kempner

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