air rights


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Air Rights

The right to build on, occupy, and/or profit from the air above a piece of real estate. Supposedly, air rights have existed as long as the concept of private property, but it became important in the 20th century as air travel became more common. In the United States, air rights only extend to the amount of air that one may reasonably occupy. As with other aspects of real estate, air rights may be sold, leased, or otherwise acted upon either in conjunction with or separate from the property to which they are attached. See also: Mineral Rights.

air rights

Historically,property owners owned to the center of the earth and to the top of the heavens, which included the right to all the air above the property and the right to exclude trespassers from that air. Until the invention of aircraft, the matter typically arose only in disputes over the right to remove tree limbs extending over one's property. Today, aircraft constantly trespass into property owner's air space and violate their air rights.As an accommodation to modern technology, courts allow reasonable trespasses to air rights. Airports and governments frequently purchase air rights adjacent to an airport,called avigation easements,to provide glide paths for aircraft.(Because of the scarcity of prime real estate near city centers, many local governments are investigating and implementing plans to lease air rights above transit hubs to developers,for building hotels and other such projects.)

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News of the air rights in Stuy Town--and new owner Blackstone's claim over them, along with the 110-building property, was reported in the Wall Street Journal last week.
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).
Mao pointed out that the number of tourist arrivals to Taiwan will grow further this year, thanks to the new air rights, increased flights, and the expansion of the sources of Chinese free individual travelers to 11 cities.
The I-395 Air Rights Development will occupy the largest continuous undeveloped site in downtown DC.
He also concluded that the air rights to 192 Broadway could not be transferred because there was no zoning lot merger as of the vesting date.
The ordinance is expected to raise hundreds of millions of dollars for the city through the sale of air rights and allow the development of several new skyscrapers.
At issue is air rights above Garland Street, which runs behind the old Arkansas Bar Foundation building and the DoubleTree.
In addition to the in-place revenue stream, the property is being sold with air rights that allow for the potential construction of a 14-story tower.
Emirates, Etihad, Qatar and Turkish have achieved the limit of air rights and slots made available to them.
Forest City Enterprises Inc (NYSE: FCEA) (NYSE: FCEB) (FCE), a US-based reality investment company, has closed a sale of land and air rights of around 16 acres of property to Rock Ohio Caesars Cleveland LLC, a subsidiary of Rock Gaming LLC.
Two years ago, demand for air rights was, well, through the roof.
WASHINGTON -- The General Services Administration (GSA) today announced that it is offering nearly 15 acres of air rights for sale near Union Station in Northeast Washington.