The Revitalist

File this story under Preservation and Money: the Wall Street Historic District has been added to the National Register of Historic Places. The District includes 36 blocks in Lower Manhattan and 65 historic buildings and sites. Several of the buildings/sites had already been individually listed or landmarked by the City of New York. The designation gives building owners access to tax credits for restoration or rehabilitation work on their buildings, but it also places them under the scrutiny of the National Park Service who administers the Register.

In the Marketplace story, the head of the local Business Improvement District says that he's concerned that the added regulations will slow development, but that doesn't seem likely. With the tax credits, many improvement projects will become more feasible. Besides, there is almost nothing you could do that would make Wall Street an undesirable address.