What is TDR?
Transfer of Development Rights (TDR) is a land-use planning tool that allows property owners to transfer the right to develop their land from one area to another. This is a powerful, market-based incentive for preserving historic structures by allowing the property owner to sell and transfer unused development rights.
Required ingredients
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Upzoned height from existing building stock
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Historic building stock at risk of demolition for redevelopment
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Designated historic buildings
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Demand for additional density or buildable square footage
Definition:
The Transfer of Development Rights, or TDR, is a market-based incentive for preserving historic structures by allowing the property owner to sell their unused development rights. Sometimes referred to as ‘air rights’, this buildable potential can be understood as the difference between what could be built on a site today (what current zoning allows) and the historic building that exists on the site that we want to see preserved. For example, in Downtown Sarasota, the Downtown Core Zone (DTC) allows for buildings to be 10 stories, whereas the remaining historic structures are often only 2 or 3. TDR allows the owner of the historic structure to sell the buildable area of those 7 or 8 stories to be utilized in a new project on an appropriate site, providing an alternative route to realizing a full market value without demolishing the historic building.
Why?
Sarasota is renowned for its architecture and history, but it is losing its historic buildings at a staggering rate. We are at a tipping point …we need to preserve what remains of the authentic character and history of Sarasota. It is essential to our heritage tourism and our quality of life.
How it Works
With Historic Preservation TDR the City is not gaining height, but rather transferring height and density from an inappropriate location (one that demolishes a historic building) to an appropriate location.
The presentation PDF below includes the TDR Initiative Summary, St. Petersburg case study, and more.
Digging Deeper
Historic property owners within boundary:
Already designated: why get TDR zoning confirmation letter? Because this will help you understand exactly how many unused square feet and dwelling units you could potentially sell. It is the first step but does not bind you in any way.
Not yet designated:
If your property is not yet locally or nationally designated, or a contributing structure to a historic district, there are lots of reasons why you might want to get that process started. Taking advantage of the TDR program is one, but also the flexibility in the building and zoning code can make maintaining and improving a historic property easier and less expensive.
Historic Designation
Local vs. National
Benefits & Incentives
Benefits and incentives for designated historic property owners include:
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Flexibility in the building and zoning codes that help keep the character of historic buildings and keep code compliance costs down
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A ten year, transferrable Ad Valorem Tax Exemption for qualified improvements
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Exemption from the FEMA substantial improvement rule
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Historic Preservation Transfer of Development Rights Program currently available in downtown Sarasota
History of the Initiative
SAHP began researching and compiling the case for a Historic Preservation TDR program downtown several years ago. When the Sarasota City Commission grew receptive, and the development community grew curious, we brought the idea to the table.
Staff and members of our Sarasota Preservation Program Committee shepherded the program hand-in-hand with City Planning Staff through development, crafting ordinances and zoning language, and approvals. The process which included community engagement took almost 2 years to complete. Click here to view the PDF of the Transfer of Development Rights Ordinance (24-ZTA-05, 25-5556) or visit the the City of Sarasota's web site: City of Sarasota Historic Preservation Program
Saved: The Colson Hotel
A Community Comes Together for Historic Preservation
During the early and mid-20th Century, Jim Crow laws made it illegal for African Americans to stay at white hotels. To address the issue, in 1926 Edwin O. Burns erected the Colson Hotel in the Overtown neighborhood in the Mediterranean Revival style. The building contained 26 guest rooms and a comfortable lobby which featured a fireplace. It provided an important service for the Overtown and Newtown neighborhoods and has become important to African American history in Sarasota and is a contributing resource to the Overtown National Register Historic District.
Slated for demolition to make way for new townhomes, the historic hotel in the Rosemary District has officially been saved.
Historic Preservation TDR played an important role in securing ownership of this critical historic resource. To learn more about this project visit SaveTheColson or read this recent article by the Sarasota News Leader.
