HDC, in partnership with our colleagues at the New York Landmarks Conservancy, Landmark West! and FRIENDS of the Upper East Side, recently sent a letter to the LPC Chair Lisa Kersavage asking for clarification around the process for Transferable Development Rights (TDRs) of landmarked buildings, a process which was streamlined during City of Yes.
Pursuant to Section 75-42 of the Zoning Resolution, the LPC must issue a favorable report to the City Planning Commission regarding the continuing maintenance program for the landmark in connection with a transfer of development rights. We have seen an increase in these types of applications to LPC in the past few months.
HDC has never been opposed to development, and we believe that the ability to monetize unused development rights provides an important financial incentive to property owners in order to support the long-term stewardship of individually-designated properties. TDRs can fund a landmarked building’s Continuing Maintenance Programs (CMPs), which can include restoration work, inspections, reporting requirements, and dedicated maintenance funding.
However, we have raised concerns about potential efforts to streamline TDR-related approvals and emphasized the need for a publicly articulated framework governing how these agreements are evaluated, monitored, and enforced. The groups contend that public oversight is essential because CMPs involve broader questions of preservation policy, accountability, and long-term stewardship.
HDC and the wider preservation community call for greater transparency and consistency, so that TDRs remain an effective preservation tool while maintaining public confidence in the program. We will continue to work with LPC as policies surrounding landmark preservation and development rights continue to evolve.
(Photo credits for the featured image: Higgins Quasebarth & Partners LLC)