Quote:
Originally Posted by Kngkyle
Except the air rights are currently owned by a developer. Perhaps they have their eye on this site next? That is assuming DonMendigo is correct.
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Yeah, they didn't buy air rights as in "the rights to build above the garage", they bought all the excess FAR from the garage parcel and transferred it to the CNA parcel to allow a taller tower there.
With streets on two sides, landmarked buildings to the north, and a height-capped parcel to the east, CNA has guaranteed views on all four sides, so they can make the floorplate literally fill up the lot. They probably also bought a light/vent easement from the garage owners (Beitler?) so that nobody can ever build a building up to the lot line on the garage parcel.
I mean, if you're Beitler I don't know why you'd say no. That company hasn't really gotten any projects off the ground in the last decade, but they just made some free money by selling off an asset (unbuilt FAR) that they were never really gonna use.