New York City's Landmarks Preservation Act was intended to protect about three or four "historic districts"—Brooklyn Heights, Greenwich Village, etc.—preservationist James Van Derpool told the New York City Council in 1964. That's all "anyone had seriously considered."

The Landmarks Act was passed the following year thanks in part to Van Derpool's testimony. A half-century later the city has protected 138 historic districts. Nearly a third of the structures in Manhattan have been landmarked. As I argued in a Reason TV video published last year, entire swaths of New York City may as well be encased in a life-sized historical diorama. Out-of-control landmarking is undermining the process of creative

destruction that made New York, well, New York.

This month, the Landmarks Commission designated a giant Pepsi-Cola sign on the Queens waterfront (which was in no danger of being torn down for what it's worth), and it voted to extend the Park Slope Historic District to include an additional 292 buildings.

What justifies these two designations? Landmarks Commission Chairwoman Meenakshi Srinivasan was left straining. She lauded the Pepsi sign for "its prominent siting" and "frequent appearances in pop culture." The Park Slope blocks are part of an area, Srinivasan explained, that "owes its cohesiveness to its tree-lined streets, predominant residential character, and its high level of architectural integrity."

If "prominent siting," "tree-lined streets," "residential character," and "architectural integrity" are grounds for landmarking, what's to stop the Commission from declaring every square inch of the Big Apple too precious to ever change?

Click below to watch "How New York City's Landmarks Preservation Act Bulldozed the Future:"