air right


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air right

The legal property right for use of the space above a specified elevated plane; usually includes the right to ground support but excludes other rights to ground use, e.g., the right to construct a building over a railroad track.
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References in periodicals archive ?
This area, known as the property's air rights, would be apportioned to the owner by the Ministry of Culture in the form of certificates that represent the dimensions of the unconstructed space.
5 million s/f of air rights in play in East Midtown.
Hines acquired the land in 2007 and it took until last week to close on the purchase of additional air rights necessary to build 53W53, a condo designed by Nouvel with interiors by Thierry Despont.
Facing pressure to get something done more than a year after residents approved the tax increase, library officials now say they're moving ahead with a plan that doesn't encroach on the park's air rights.
The City Planning Commission is proposing a rule change that would increase the price of air rights in the neighborhood to $500 per s/f.
One of the ways the legislature has permitted separation of ownership in air rights is by the creation of condominiums.
The purpose of this RFEI is to gage interest and solicit Projecl Vision Statements from Firms capable of developing the air rights at the Stations in a manner consistent with MARTA%s objectives and TOD Guidelines (hereinafter defined).
Rick's Cabaret International Inc (Nasdaq:RICK), an operator of upscale adult nightclubs, announced on Thursday the extension of an option by its subsidiary to purchase the property at 50 West 33rd St, New York, until 9 August 2013, while it works out contractual details to sell some of the air rights it is acquiring to a third party.
According to the revised zoning text, the Air Rights are transferable to any other property in the Phase II area located between 10th and 11th Avenue from 33rd Street to 42nd Street.
Forest City Enterprises Inc (NYSE: FCEA) (NYSE: FCEB), a US-based reality investment company, has announced that it is completing a sale of land and air rights in Cleveland, US, to Rock Ohio Caesars Cleveland LLC.
Mao urged domestic airlines to expand their plane fleets actively to accommodate the surge in travelers resulting from the expansion of air rights last year, including mutual sky opening with Japan, the inauguration of Songshan-Gimpo (South Korea) Airport flight, and increased flights for Hong Kong, as well as increased cross-Strait flights.
Unused development rights, also known as air rights, represent the difference between the maximum permissible floor area and the actual built floor area on a zoning lot.