Monday, February 9, 2015

Feb 26 - Trading High in the Sky: Transfer of Development Rights

THE STEVEN L. NEWMAN REAL ESTATE INSTITUTE
of the Zicklin School of Business in association with the 
New York City Department of City Planning presents

TRADING HIGH IN THE SKY: TRANSFER OF DEVELOPMENT RIGHTS 
A critical understanding of TDRs with a look toward change.


KEYNOTE SPEAKER: 
Carl Weisbrod, Chairman, NYC Planning Commission 

There will be no charge for this event. 

This important and timely forum will convene an influential group of national and local experts from government, the real estate industry, academia and the legal and planning professions, to survey existing TDR mechanisms, analyze their success, and explore various alternatives to reform their use. 

Opening presentations will include a Keynote Address by Carl Weisbrod, Director of the New York City Department of City Planning and Chairman of the New York City Planning Commission. Panelists will include David Brown, Director of Real Estate, Archdiocese of New York; Kenneth K. Fisher, Partner, Cozen O’Conner; David Karnovsky, Partner, Fried, Frank, Harris, Shriver & Jacobson LLP; Jerold S. Kayden, Frank Backus Williams Professor of Urban Planning and Design, Harvard University Graduate School of Design; Michael Kwartler, President, Environmental Simulation Center; Margaret Newman, Executive Director, Municipal Art Society of New York; Rick Pruetz, Principal, Planning & Implementation Strategies; Richard J. Roddewig, President & Co-Founder, Clarion Associates, Inc.; David Schleicher, Associate Professor of Law, George Mason University School of Law; Robert I. Shapiro, Founder and President, City Center Real Estate; Dan Sider, Senior Advisor for Special Projects, San Francisco Planning Department; Robert Von Ancken, Executive Managing Director, NGKF, Capital Markets, and other industry leaders.

Since the city enacted legislation more than 40 years ago to allow landmarks to transfer their unused development rights to adjacent sites, only a handful of properties have taken advantage of these provisions. While the City of New York has been a pioneer in TDRs with the creation of the Theater District, Grand Central Sub district, the South Street Seaport, and the West Chelsea Highline District to allow wider transfer of development rights to achieve specific policy objectives, individual landmarks have little flexibility to sell their unused development rights in order to fund maintenance and maximize value. Without debating the merits of landmarking, the conference will importantly explore new ideas for loosening the current regulatory controls to facilitate the transfer of development rights from landmarks. 

Discussions will examine the legal and land use basis for the current regulations; issues related to the current regulatory framework, and proposals for wider transfers. The examination would cover issues related to public review, conflicts with other public policy priorities, and potential benefits to landmarks and the city. Critical questions considered will include: how far should development rights be allowed to transfer; what obligations, if any, should be imposed on the sellers and buyers of these rights; and how might these development rights be accommodated while ensuring that the physical character of the receiving neighborhoods is not undermined. 

While much of the focus would be on the transfer of development rights from landmarks, potential areas of discussion will include wider transfers for significant sites under private and public ownership, as well as an exploration of how such transfers (along with bonus mechanisms) impact the City’s land use planning generally.

Photo: CIM Group & Maclowe Properties
Location Information:
Baruch College - Information & Technology Building (Library Building)
151 E. 25th St.
Room: Atrium, Rackow Room and Lounge - Rooms 750 and 760
Contact Information:
Name: Sara Hilska Taylor
Phone: 646-660-6950
Email: Sara.HilskaTaylor@baruch.cuny.edu

Hat tip to David Schleicher for the heads up...

 

 

https://lawprofessors.typepad.com/land_use/2015/02/feb-26-trading-high-in-the-sky-transfer-of-development-rights.html

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