Historic Preservation versus Affordable Housing

Multi-family property owners have known for decades that a Landmark District is the kiss of the death for their properties: Landmarking makes it much more expensive to maintain and improve residential properties. Now, our brethren at REBNY have uncovered another negative of historic districts. In a recently released report, REBNY had found that landmarking of historic districts precludes the development of affordable housing. See the links below for a copy of the report and the Editorial view of Crains New York Business.