Transfer of Development Rights (TDR)
This land use strategy allows owners to sell unused developmental areas from their land to other property owners who wish to exceed the permissible limit in specified zones. These unused regions, often termed as ‘donor sites’, can typically be areas of historic value, green space, or agricultural land. The application of this strategy can benefit communities by helping to preserve these sites and deter unsustainable urban sprawl.
The purchaser, who acquires these rights, utlilize them in ‘receiving areas’. This could mean developing beyond what’s typically allowed, such as constructing taller buildings or adding more floor area. Such transfers offer a win-win situation, providing financial gains for the seller and potentially higher returns for the developer.
A critical tool for municipal planning, this innovative strategy is a means of directing growth and development towards more appropriate areas. Building in flexibility, it is a practical way of managing landscapes and maintaining the balance between preserving open spaces and meeting urbanization demands. However, the success of these rights’ transfers depends on clear local land use policies and market factors.
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