When a historic district is born — the city’s 88th, Sunnyside Gardens, was approved on June 26 — its neighborhood frequently becomes two neighborhoods. The street signs within the district are terra-cotta rather than the standard green, but the distinctions go far deeper than signs, involving money, aesthetics, image, even class.
A 2003 study by the city’s Independent Budget Office found that market values of properties in historic districts are higher and appreciate at a slightly greater rate than those outside historic districts. For example, the study, which covered the years 1975 to 2002, found that the inflation-adjusted prices of properties within historic districts rose by an average of 5.3 percent a year, while those outside historic districts rose by an average of 4.2 percent.
Simply put: Red-lined neighborhoods, many of which are in Queens, can't have historic districts. It interferes with the tweeding.
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