Ever since the passing of the ordinance which assured that historical restoration in Beverly Hills was essential, the importance of historical landmarks in the real estate market has been maximized. Basically, there were a few clear instructions described in the ordinance which set the tone for the importance historical properties in the region. First and foremost, the ordinance introduced a staff position for an urban designer and created a Cultural Heritage Commission. In the light of this introduction, Noah Furie was appointed the founding chairman of this commission, the figure who was already the Planning Commissioner. The ordinance further stated that a 30 day review time period would be implemented before the demolition of any properties which were designed by “master” architects and exceed 45 years of age. This also described how important the historic preservation in Hancock Park and surrounding neighborhoods was as these areas feature some of the most well designed old constructions of well known architects. The suggested review period was included as this time period would allow the CHC to assess the given structure and try to talk the owner out of demolishing the property and preserving it instead. The so called “master” architects are all enlisted in a directory which was compiled by the CHC.
In simpler terms, the concept behind this ordinance was to ensure that historical restoration in Beverly Hills remains untouched and all the properties which are historical landmarks are given their due importance. Given these rules and regulations that came about due to the rise of historical restoration in Beverly Hills, you need to consider a few essential factors before opting for real estate investing in June Street, Los Angeles or any surrounding neighborhoods. Just make sure that your investment remains clear of any potential pitfalls.