Philip J. Lucier, President of Continental Telephone Corporation, and a resident of the Parkview area of the Skinker-DeBaliviere neighborhood, announced at the Assembly of the People of St. Roch’s on Sunday, April 26, 1970, the formation of West End Townhouse, Inc. a wholly owned real estate investment subsidiary of his company with an initial capitalization of $150,000 which will rehabilitate and rent single family homes and apartment buildings in the Skinker-DeBaliviere neighborhood.
Lucier stated that in addition to the investment program of West End Townhouse, Inc. which will begin sometime late this spring, the corporation will sponsor a limited partnership as a vehicle for individuals and corporations to match Continental’s initiative in neighborhood investment. He noted that it is anticipated that $150,000 worth of equity or risk capital should attract between $600,000 and $780,000 of total investment.
Lucier emphasized that the corporation would conduct its investment program with the primary purpose of fostering maximum racial integration and neighborhood improvement. Lucier feels that public utilities such as Continental have a positive responsibilty to foster integrated and exciting urban environments such as can be accomplished in the Skinker-DeBaliviere neighborhood.
Lucier went on to emphasize that the Board of Directors of the corporation which will determine its investment policy and carry out the programs which he described, will have several neighborhood residents as directors. He noted that Ray Hutchison, an employee of Continental and a resident of the 5900 block of Pershing Avenue is Treasurer of the corporation, that Gerry Deppe, a resident of the 6200 block of Waterman is a member of the Board of Directors and that John Roach a resident of the 6100 block of Kingsbury would serve as a Member of the Board of Directors and Secretary of the corporation.
Originally published in The Paper, May 1970.
