Air Rights Development as a Value Capture Strategy

Value capture strategies attempt to apply a benefit principle to public infrastructure investment by creating a mechanism for the public sector to capture the publicly created value through infrastructure improvements. This article focuses on air rights development, which is the legal capacity to make use of a three-dimensional area of transportation right-of-way for development. As a value capture strategy, air rights can be used as a part of joint development or as a means to generate revenue afterwards. This article reviews the history of air rights, its extent of use, and its mechanisms. Then we evaluate the applicability of air rights development as a revenue strategy based on four criteria including efficiency, equity, sustainability, and feasibility. Finally, we provide recommendations for its application.

Language

  • English

Media Info

  • Media Type: DVD
  • Features: Figures; References;
  • Pagination: 15p
  • Monograph Title: TRB 89th Annual Meeting Compendium of Papers DVD

Subject/Index Terms

Filing Info

  • Accession Number: 01155689
  • Record Type: Publication
  • Report/Paper Numbers: 10-3358
  • Files: TRIS, TRB
  • Created Date: Jan 25 2010 11:41AM