kcantor
Senior Member
the only caveat to that is that density right acquisition and far transfer has to have value in order for it to work. when our planning department and council give away density for the asking, any density and far that could be transferred has an equivalent (ie zero) value....
Density bonusing, density right acquisition and FAR transfer are tools that can work to achieve a win win, but we tend to look at sites as singular or distinct objects versus as part of a broader block or area.
i think for that framework to "work", owners of heritage buildings first need to be able to sell excess density.
second, owners wanting more density should be required to obtain it in the marketplace (even if the city needs to operate that marketplace).
third, the vending owner should be required to use a portion of the proceeds to set up and set aside a reserve fund account for the ongoing maintenance and repair of the property that will flow with the property and not the owner the same way it flows with a condominium property.