The neighborhood's historic district designation has preserved its 19th-century architecture, with many buildings dating back to the 1800s. However, this has also limited new development and driven up prices. As a result, there is tension between long-time residents and newer, wealthier arrivals. The neighborhood's character is shaped by its proximity to Manhattan and its own unique sense of community. Despite the high prices, residents are drawn to the area's sense of refinement and tradition. The neighborhood is also home to a number of cultural institutions, including the Brooklyn Historical Society. As the neighborhood continues to evolve, it will be important to balance preservation with progress.