That would be kind of neat... Where do you live? Oh, the Ovaltine building, you can't miss it.
Here they would likely make them continue the color around the building. We see the houses on PBS's This Old House are quite often in historic areas, and run into restrictions like acceptable colors, or you can replace windows but the new ones have to have the same number of lights.
I feel sorry for people who buy a house, or live in a generations old house, who are suddenly saddled with a ton of restrictions because somebody else decided they were within the boundaries of a historic area.
