Quote:
Originally Posted by BBMW
How about this:
Development rights are a currency that the government can create. So let the MTA create some. Allow them to sell expanded development rights to developers, in return for either continuing or one time payments (depending on some formula the state legislature comes up with.)
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Sounds like a BRILLIANT idea. They've done this in extremely limited circumstances like Hudson Yards and Atlantic Yards. Let the MTA do this on a broader scale.
The MTA could sell the air rights to Sunnyside Yards, Concourse Yards (there are proposes to let Lehman College and others expand on top of the Concourse Yards) all while selling additional development rights, which would give them stakes in any new construction/real estate nearby.