"The proposed development committee voted to approve includes the restoration and stabilization of the building and the construction of a three-storey addition at the back, with 14 residential units. There are no parking spaces proposed for the site.
The plan is subject to several conditions, including the implementation of a conservation plan. It also requires that a construction schedule be submitted that outlines anticipated timing of key milestones for the project."
There’s a saying that if you learn that your building is about to be designated for protection, you’d better demolish it immediately. The committees are trying to do the right thing, but most often the result is just decay and reversed incentives.