L.A. Develops A New Tool To Grow Taller, Denser

"Air rights transfers are not a new concept; the idea was first discussed in LA in the late 1980s. But Downtown has grown a lot since then and demand has dramatically increased in LA for more retail and more housing. Downtown is the one area in the city, except perhaps for Hollywood, to welcome high density because we have the public infrastructure to accommodate it."

"Additionally, all projects will still need to go through the planning process. This ordinance does not leave room for the city or developers to skirt their responsibility. Developers will still need to provide for infrastructure improvements deemed necessary during the entitlement process. And the trust fund dollars will not be accessible to the developers to pay for the public improvements required by the city. They will instead be available to mitigate and improve infrastructure like acquiring and creating park space."

"Infrastructure investment creates opportunities for density, and it is the downtown core's current infrastructure that makes good city planning possible. We cannot diminish the significance of that as we use the TFAR ordinance and the potential trust fund dollars it could generate."

Thanks to josh Stephens