Air rights development : is it different from traditional land development?
Name
42368344-MIT.pdf
Description
Full printable version
Size
3.9 MB
Format
Adobe PDF
Checksum (MD5)
b8583df5a53ae62f124a228599910cfa
Author(s)
Clancy, Sean P. (Sean Patrick), 1971-
Advisor(s)
Lawrence S. Bacow.
Date Issued
1998
Publisher
Massachusetts Institute of Technology
Abstract
The availability of large desirable urban development sites continues to diminish. Air rights development is an innovative way for real estate entrepreneurs to create space for developing large-scale projects. Because a portion of these projects are constructed on air, one would expect the deal structure for an air rights developments to be dramatically different from those used for traditional land developments. This paper examines the how the general development issues - ownership, financing and taxation - are structured for air rights developments. Generic air rights development issues and resolution are identified. These finding are then used as the base for in-depth analysis of three existing air rights developments completed in the Boston area. Each development contains unique components as a result of the different individual characteristics of every real estate project, however, the ownership, financing and taxation components of these deals were structured similarly. This study supported the conclusion that air rights development has little affect on the deal structuring of large-scale real estate developments.
Description
Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 1998.
Includes bibliographical references (leaves 53-54).
Subjects
Urban Studies and Planning
MIT Department
Massachusetts Institute of Technology. Department of Urban Studies and Planning
Terms of Use
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