NYC Housing 10 Issues Series #6: Transferable Development Rights
In a very dense city with a significant need for affordable housing, unused development rights are an important potential source of additional capacity. Wider transfer of development rights would support the development of affordable housing. Many communities, however, fear the increased density that additional transfers would create. Permitting transfers of unused development rights to more distant locations to spur the development of affordable housing. This brief explores the tradeoffs of a revised transferable development rights policy.
The #NYChousing series, published in 2013 prior to the New York City mayoral election, identified 10 key affordable housing issues that were likely to confront the next mayor of New York City. The series aimed to inform the public about the policy tradeoffs by providing an objective analysis of the pros, cons, and questions related to key housing issues facing New York City. How the incoming New York City mayor would choose address the city's housing challenges in an environment of increasing needs, declining federal support, and a strengthening real estate market would have an enormous effect on the livability, diversity, and character of the city.