In 1965 the New York City Landmarks Law which established the New York Landmarks Preservation Commission, was signed into law. Since then, approximately 180 non-for profit and religious institutions buildings have been designated as individual landmarks, forbidden to demolish or substantially alter their buildings and required to repair them to the highest standards. In 1968 a development rights transfer plan for designated landmarks was introduced and subsequently codified in section 74-79 of the New York City Zoning Regulations. The law and its subsequent amendments allows, among other things, for the transfer and sale of religious and not-for-profit landmarks’ unused Transferable Development Rights (TDR’s), also known as air rights, to development sights (receiving sites) within a few blocks of the landmark (For exact geographical parameters see NYC zoning regulation 74-79.) with the hope that this flexibility would offset the burden of being designated. However, while the law with regard to religious and not-for-profit landmarks TDR’s was and is well intentioned, it has proved, over the past 45 years to be unnecessarily restrictive and burdensome to these landmarks.
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This is evidenced by the paucity of development rights transfers from these landmarks since the law was established and, more recently, during what was arguably the greatest building boom in New York City history. The reason for this is as basic as the law of supply and demand. In certain sections of New York City such as Manhattan, there are and have been very few “receiving sites” available (demand but no supply) under the restrictive geographical parameters of the present law and in other sections of the City, there are numerous receiving sites available but there is no demand because they are not in prime development areas. So, while the law theoretically may make relief available it simply does not work the way it was intended, and it never will unless it is amended.
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These Religious and not-for-profit landmarks are in need of funds to preserve their landmarks. While a historically and culturally important and integral part of New York City, they do not have the ability or capacity to access capital or increase revenues. as for-profit landmarks do. (Please see relevant New York City Administrative Code in the about LANDREX section of this web site) .
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The goal of LANDREX** is to unlock and monetize, over an extended period of time, more than 25,000,000 square feet of Transferable Development Rights, held by 180 New York City individually designated, not-for-profit, tax exempt properties, for the benefit of all New Yorkers, by amending the New York City zoning regulations and Landmarks Law to allow for the expansion of the areas where these rights can be transferred to existing 20% commercial bonus area districts throughout the City. To that end we have already met with and prepared presentations for numerous New York City government officials and agencies, civic organizations and a host of potential participating institutions. To be clear, LANDREX is not a short term fix but rather a long term continuously renewing funding mechanism. LANDREX has been crafted so as not to compete with inclusionary housing programs.
*ET CIVITAS (English pronunciation: ET SI-VI-TAS) is one of the Latin translations of ONE CITY. There may be other translations and interpretations but this is the one that we felt was most appropriate to convey the intended message. (The Seal of the City of New York includes the Latin text SIGILLUM CIVITATIS NOVI EBORACI which means simply The Seal of the City of New York.)
**Landmarks Development Rights Exchange
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Copyright© 2011, 2014, Iconplans llc; 2016, Lawrence Daitch. All rights reserved. Any duplication or distribution by any means, without the written consent of the copyright owner is prohibited. The words Landrex, Iconplans, Et Civitas, (One City), Our History. Our Heritage. Our Legacy. are protected Service Marks (sm), Some Information in this web site was obtained from public and private sources other than the copyright owner, the accuracy of which cannot be guaranteed.