Two other developments were incorporated in 1892 and purchased their plots of land. The Spring Park Improvement Company bought a main plot of 73 acres north of King Street and a further 26 acres at Hoof Run. By the time they were ready to develop their property, however, the Panic of 1893 had taken hold and the plans were put on the shelf. Indeed, they did nothing with the land for almost ten years, finally opening up sales in late 1900. In 1908 the development was sold the Alexandria Realty Company, and shortly thereafter to the new Rosemont Corporation, which accelerated sales.
The second development was organized by George Videtto, half of the wide-ranging real estate investment firm of Spear & Videtto in DC and Michigan. He bought a linear tract of land in late 1891 for a reported $25,500 and began developing it as “Park Addition” the following year.
Videtto constructed an east-west street, Alexandria Avenue, running from the northern part of the city to the North West Alexandria development. Lots were laid out on each side, each having a frontage of 25 feet and a depth of 120 feet. In June Spear retired from the partnership, which was renamed George C Videtto & Co. As was the case with the North West Alexandria land, no transportation was available, the lots were less desirable, and sales were slow to take off, only a single lot being sold to Mary Kennedy for $250 in July 1892.
The Videtto company was apparently heavily leveraged and the panic of 1893 pushed the firm over the edge. In September 1893 Park Addition (less the one lot sold) was put under the auction hammer to satisfy $14,281 in defaulted mortgages. It was bought by Melissa A Wood for the mortgage value.
Melissa Wood was a 51-year-old widowed mother of two and apparently not the shy and retiring type, being one of the first dozen residential telephone customers in Alexandria in 1894. She moved aggressively to sell land, the depression notwithstanding, but was rewarded with more motion than substance, as sales were consummated, then defaulted on, and resold. In spite of all the churning there were only ten sold plots, with only one house, in 1895 and by 1900 only seventeen plots (although one covered the entire north side at the east end of the street) and two houses.
The creation of Potomac Yard in 1905 led to the loss of the three eastern blocks of Alexandria Avenue, including both of the existing houses. Thus, there was not a single house to be seen in the development during 1905-1908; one was built in the latter year and two more in 1910. Development picked up somewhat after that so that by 1915 the number of houses had increased to 12, still a far cry from the 77 single-family and duplex units plus 18 row houses in the development now.