This building is evidence of how legislation meant to protect important buildings often winds up destroying them. The facade of the building is preserved under the Special Premises (Preservation) Ordinance, 1985, thus prohibiting it’s owner from generating market level incomes from the buildings. Because he could do nothing with this massive piece of land in the middle of town, because he couldn’t add the illegal tenants that owners of other buildings have done, he tried to make money by selling billboard space on the building.
Since the billboards also violated the Ordinance, he’s removed them, but has excavated the inside of the building for a high-rise construction that will save the facade. Since the meltdown in the property market and the crack down on high rise buildings, the construction has stopped.
What we have is the outside shell of a once historical building.
the building has so much character
This building is evidence of how legislation meant to protect important buildings often winds up destroying them. The facade of the building is preserved under the Special Premises (Preservation) Ordinance, 1985, thus prohibiting it’s owner from generating market level incomes from the buildings. Because he could do nothing with this massive piece of land in the middle of town, because he couldn’t add the illegal tenants that owners of other buildings have done, he tried to make money by selling billboard space on the building.
Since the billboards also violated the Ordinance, he’s removed them, but has excavated the inside of the building for a high-rise construction that will save the facade. Since the meltdown in the property market and the crack down on high rise buildings, the construction has stopped.
What we have is the outside shell of a once historical building.
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