Air Rights Explained: Balancing Private Gain with Public Good
Air rights transactions have become essential in urban development, allowing cities to grow vertically while preserving limited land resources. Typically defined as the right to use or sell the space above a property, air rights enable property owners to transfer unused floor area ratio (FAR) to neighboring parcels, creating increased density and financial gain opportunities. As urban centers face mounting pressures from limited land supply and population growth, air rights continue to offer a creative solution that fosters architectural innovation and economic efficiency.