One of the many strange but true maxims about historic preservation is that economic prosperity is a mixed bag -- and that its opposite, economic “hard times,” can often prove to be a partial blessing by preserving historic resources.

The problem, of course, is that free-flowing money and easy credit brings an opportunity for corporations and communities to pursue aggressive redevelopment plans -- and unless a community has a well-written and enforced preservation or design review ordinance in place, the result can be quick and painful losses of historic fabric.  Case in point -- although in desperate condition, the historic fabric of a hard-hit community like Shawnee is remarkably intact.

The current US economic climate is already resulting in changes in the way that architecture is being advanced.  In this interesting Los Angeles Times story, the writer points out that the current credit and financial crisis is having a quick impact in the field, with a change in emphasis from large, iconic single buildings to smaller, more connected public projects.

However, there is another darker, side.  As noted previously in our “Feature Box,” some Ohio preservation projects are feeling the pinch - particularly large-scale efforts.  The Ameritrust Building in Cleveland, for instance, one of the recent recipients of the Ohio Historic Preservation Tax Credit, is on temporary hold pending the easing of the credit crunch.  In the last couple of weeks, this has in turn led to Cuyahoga County Commissioners providing a half-million dollar penalty break for the prospective owner in the hopes that purchase financing can eventually be obtained, according to this story in the Plain Dealer.

Photo: Ameritrust Tower, Cleveland - jsmuscatello/Creative Commons License