Open Pimp: Economic Effects Of Historical Preservation

Interesting, and any time I have gone to Rhode Island it was to look at old houses in Providence and Newport, and the Pawtucket River Valley just north of Providence, which is the birthplace of the industrial revolution in America. It is the oldest toy-making center in country, and is where Hasbro still has its headquarters.
Ct and Norwalk in particular has just as much history and potential.
Eventually Norwalk will be the gateway to New England from the metro NY area, and will maximize its historical attractions way beyond what is happening now.

There is no argument historic preservation, done right, can be an enormous benefit for a community. It is hard to estimate the true economic benefits, sometimes. We have the Maritime aquarium in the old Norwalk Tank Co building, the condomiums in the old Yankee metal building, City hall in the old Norwalk High school, and a good part of the sono district is restored old buildings converted from prior uses. It usually comes down to dollars and sense. Some historic buildings lend themselves to restoration for new uses, some don’t. Property owners/developers look at the benefits and costs of restoration/preservation and weigh that against the benefits and cost of new construction. The real advocates for preservation mourn the loss of buildings they think should have been saved. The rest of us are happy with what has been saved, and agree a lot has been lost. Some were sacrificed to build the turnpike, some just because the land became so valuable for some other use, owners could not be persuaded to save an old house where they could build big office buildings. We talk about the Gallaher estate, but Mr Gallaher’s business was Clover Mfg. on Main Ave and that building is still being used, even though part was demolished for a CVS drug store. There is a big old building at Carlton Clourt that contains the oldest elevator in Norwalk that was converted to apartments years ago and is visible for a long distance from the sound. The old Farrel estate in Rowayton has been through many uses since it was a private home, once the home of General Mac Arthur. Additions have been built, but the original building has been pretty well preserved.

Sorry Turf:

This article is a misleading and underwhelming. It measures not newly created wealth, but measures instead the benefits which are derived from the government dollars poured into preservation programs. Of course government credits and preservation dollars will give a small temporary boost to an economy in the form of jobs and material sales etc.. But such spending driven by tax dollars is actually an expense not a form of wealth creation, since the economic boost is driven entirely by taking someone else�s money through taxes. However what is not shown is that the preserved properties are then economically viable in their own right. I have seen no studies to suggest historic preservation sites are making money. To the contrary, nationally historic sites are loosing money and attendance is down. Anyone who thinks that numbers of people are going to make a special trip to Norwalk to stay at a revitalized 93 East Avenue, B&B is delusional. Even the Maritime Aquarium, which is a very attractive preservation site with real entertainment value is struggling. Most preserved sites would fail without continued government and charitable subsidies. I support LMMM and hope it will increase atendance but it will never be self supporting.

So let�s be honest. We can preserve because we respect history and think some preservation enhances our quality of life in a community, but please don�t try to sell the dream that history will be a money maker for our community. Especially a history as nebulous as the connection of 93 East Avenue to Norwalk�s past. We have Mill Hill, which is a very nice site. How much money does that make each year???? We all know the answer is a negative number.

Much to my surprise, I find myself agreeing with Blocked. Several of the properties I mentioned earlier are old factory buildings that have been restored and uograded for new uses. Few people remember that a large part of Washington St, where there are now apartments over retail stores was the Marhoffer shirt factory and, on Ann st, where there are now apartment/condominiums, there was a corset factory. Uptown, Clocktower Close condominiums are in the former Yankee metal products factory. In East Norwalk, several buildings that were Crofut & Knapp Hat factory are now repurposed. Crofut & Knapp, better known locally as the C&K, later as Hat Corp of America, was once Norwalk’s largest employer. We all know 93 East is not feasible for restoration/preservation as another house museum. NPT claims to believe it is feasible for restoration/preservation for a different use. The owners disagree. Restoration/preservation may be possible, but is not feasible. Return on investment is just not there. Real numbers on a very simple calculator will drive that final decision.

#8 your wrong and nasty.

The article points out a key factor in any preservation effort. When completed, it must be self supporting. Both private investors and the government must demand no less, especially the government. However, government notoriously gives �free� money, expects only short term gains, and does little to measure its long term effectiveness.
Not stated, but certainly understood, preservation efforts are successful because they build upon successful architectural themes. The investment risk should be low as long as the public consumer continues to identify old with good. If not, then �new� uses need to be added to the old architecture.
Of course, let�s not forget safety. As we found out with the redevelopment of Washington Street, the consumer demands safety. It took a long time to achieve the level of security necessary to keep tourist and locals coming back.

Adios to the Wasilla Snowbilly! Track suit sales are sure to suffer.