Working Waterfront Preservation Act of 2005 - Amends the Magnuson-Stevens Fishery Conservation and Management Act to authorize the Secretary of Commerce to award a grant to a state or local government of a coastal state, a nonprofit organization, or a fishing cooperative for projects to: (1) acquire real property in a coastal state to provide access to commercial fishermen or persons in the aquaculture industry to coastal waters in working waterfront areas; or (2) make improvements to real property owned by an eligible entity in a coastal state to provide access to such persons to coastal waters in working waterfront areas.