Trading High in the Sky : Transfer of Development Rights. Part 2 of 2

Over the last 50 years, New York City has pioneered the use of transfer of development rights (TDRs) to achieve planning and urban design goals, examples include landmark transfers, large-scale development provisions and Special District mechanisms like the High Line and the Grand Central and Theater Subdistricts. As the real estate market continues its ascent, and as calls to create or restrict TDR programs proliferate, what can we learn from the past to guide the use of TDRs in the future? The Department of City Planning (DCP) has received several proposals to create new TDR mechanisms in order to unlock floor area, generate revenue for public benefits or achieve other planning objectives. They have also heard calls from various quarters to reform existing mechanisms in order to facilitate their use or to subject them to greater public oversight. These varying viewpoints are represented on the panels at the conference.