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.

Upper West Side and Lower East Side Historic Districts Will Increase Costs and Raise Rents in Hundreds of Rental Buildings

East Village–Lower East Side Historic District approved by Landmarks

October 09, 2012 03:30PM

The Landmarks Preservation Commission today approved slightly modified version of the East Village/Lower East Side Historic District, according to a press release issued by the Greenwich Village Society for Historic Preservation. The territory covers 330 buildings across 15 blocks bounded by Avenue A and the Bowery and St. Mark’s Place and 2nd Street.

According to the release, the historic district was expanded to include structures such as the Russian Orthodox Cathedral at 59 East 2nd Street and the Magistrate’s Court at 32 Second Avenue, which now operates as the Anthology Film Archives.  As Crain’s reported earlier today, other structures in the district include the firmer Fillmore East concert venue and the German Evangelical Lutheran Church.

The landmarking came as an effort made by preservation groups to preserve the character of the East Village. The decision comes as NYU will expand its campus just west of the district. — Zachary Kussin

 

 

City Council approves UWS historic district

October 04, 2012 

 

The City Council’s Landmarks committee has approved an expansion of the Upper West Side’s historic district. The district will expand to include blocks between Broadway and Riverside Drive, between 79th and 87th streets. It is one of several proposed expansions of the historic districts on the Upper West Side. The City Council, in a full vote, is expected to approve the expansion, okayed by the Landmarks Preservation Commission, as well.

Property owners within the district will now have to get changes to their buildings approved by the Landmarks Preservation Commission, the city agency that deals with renovations and changes to landmarked buildings, as well as designates landmarks and historic districts.

 

Source: The Real Deal