While the designation could give building owners significant reductions in their property taxes if they do rehabilitation, it also puts any proposed changes under extensive scrutiny by the city. However, some buildings along Jewelers Row already carry the designation.
At least two Jewelers Row buildings, the Silversmith building at 10 S. Wabash Ave. and Pittsfield building at 55 E. Washington St. have been slated for condominium conversion, members of the commission were told Thursday. However, the landmark designation focuses on exterior improvements.
The two-block stretch has been home to the city's thriving wholesale and retail jewelry industry since 1872, says Terry Tatum of the department of planning and development. "From the beginning of the construction of these buildings, the jewelry business was there," he says.
It still is, as Jewelers Row remains a preferred spot for shoppers of engagement and wedding rings.
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