An old idea has new life in the de Blasio Administration—less restrictive air rights regulations for landmarks like St. Patrick's Cathedral.
"The Archdiocese of New York has been working with Central Synagogue and St. Bartholomew’s Episcopal Church for new rules that would allow the two churches and the synagogue—all designated city landmarks—to sell their unused air rights to developers who have properties that aren’t adjacent and may be many blocks away," reports Josh Barbanel.
The rule would be a huge boon to St. Patrick's Cathedral, which, surrounded by tall buildings, is prevented by current air rights regulations from selling its estimated one million square feet of air rights.
According to Barbanel, City Planning Director Carl Wiesbrod recently announced to an "the beginning of a broad review of air rights." The article includes a helpful infographic illustrating how air rights work.
Readers unable to circumvent the Wall Street Journal paywall can find follow up reporting in the New York Business Journal or The Real Deal.
FULL STORY: Up in the Air: Development Rights of New York City Landmarks [paywall]
Property Owners Jostle for Deals After Midtown East Rezoning
A flurry of air rights purchases have already begun as large property owners take advantage of Midtown East's upzoning. Some big names include JPMorgan Chase and the Archdiocese of New York.
Fits and Starts for New York City's Special Districts
There has been a lot of breaking news originating from both the Garment District and the Theater District in New York City this week.
$100 Million in Air Rights Sold by New York's Pier 40
The kind of air rights deal only possible in New York City will offer benefits for both parties and, hopefully, the public.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
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