The LPC was established in 1965 by Mayor Robert Wagner. The demolition of Pennsylvania Station in 1963 was a major impetus for the creations of the commission. The agency has 11 commissioners and a full-time staff. By law, LPC must have a minimum of three architects, a historian, a city planner or landscape architect, a realtor and at least one resident of each of the five boroughs. The commissioners are appointed by the mayor, who also designates the chair (Robert Tierney) and vice chair (Pablo Vengoechea). Ten of the commissioners receive no salary.

Edward Glaeser, a Harvard professor of economics, did an opinion piece in the New York Sun on Dec. 7, 2007. He believes the LPC has ?EUR??,,????'??relatively unchecked power.?EUR??,,????'?? He reports the LPC during the last 40 years has created 85 historic districts and knighted nearly 23,000 buildings as landmarks, thus ?EUR??,,????'??giving it control over vast tracts of the city’s most valuable real estate.?EUR??,,????'?? He opines the LPC is ?EUR??,,????'??one explanation for the decline in granting building permits and the reduction in the height of new buildings.?EUR??,,????'??

More significantly, he says, although the mayor has increased the granting of construction permits, he and the housing developers are being thwarted by the ?EUR??,,????'??paladins of preservation,?EUR??,,????'?? i.e., the LPC.

As an economist, he reasons when supply is stifled, people pay more for housing and city firms, in turn, must pay higher salaries.

Author Tom Wolfe, on the contrary, recently argued that developers have increasing control over the LPC.

The latest battle of developer vs LPC is the proposed addition of 22 modern stories to the top of the old Parke-Bernet building owned by Aby Rosen. If the towers go through, they will block the view from the Carlisle and may make traditionalist shudder. From the economic view point, Glaeser says ?EUR??,,????'??blocking new development ensures that Manhattan will stay unaffordable.?EUR??,,????'??