air right

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air right

n. often air rights
A right to develop the space above a piece of property, building, or other structure, such as a highway.

air′ right`


n.
a right of way in the airspace above a property, allowing the owner to build in such space, subject to legal restrictions.
References in periodicals archive ?
The building is more than 11,500 s/f with another 16,000 s/f of air rights.
The park district had given the library land for previous expansions but retained the air rights above that property.
By WILSON MANYUIRAbrWhile acres of newspaper pages have been devoted to various topics on matters real estate, not much has been written about air rights, Mr Michael Munene, a Nyeri-based property valuer, notes.
This area, known as the property's air rights, would be apportioned to the owner by the Ministry of Culture in the form of certificates that represent the dimensions of the unconstructed space.
The ownership and use of air rights are significant in today's society in the context of view easements, solar access easements, flight path easements, and development rights in the nonnavigable airspace above an owner's land.
Rick's Cabaret International Inc (Nasdaq:RICK), an operator of upscale adult nightclubs, announced on Thursday the extension of an option by its subsidiary to purchase the property at 50 West 33rd St, New York, until 9 August 2013, while it works out contractual details to sell some of the air rights it is acquiring to a third party.
According to the revised zoning text, the Air Rights are transferable to any other property in the Phase II area located between 10th and 11th Avenue from 33rd Street to 42nd Street.
Forest City Enterprises Inc (NYSE: FCEA) (NYSE: FCEB), a US-based reality investment company, has announced that it is completing a sale of land and air rights in Cleveland, US, to Rock Ohio Caesars Cleveland LLC.
Mao urged domestic airlines to expand their plane fleets actively to accommodate the surge in travelers resulting from the expansion of air rights last year, including mutual sky opening with Japan, the inauguration of Songshan-Gimpo (South Korea) Airport flight, and increased flights for Hong Kong, as well as increased cross-Strait flights.
Unused development rights, also known as air rights, represent the difference between the maximum permissible floor area and the actual built floor area on a zoning lot.
A former Prospect Heights property owner is claiming to own the air rights to a part of the site where Bruce Ratner plans to build his new Nets arena and is suing the state for trying to "steal" it.