Some cities have a row of tall buildings along the sea-shore, or overlooking a park. One risk such developers run is that someone will develop the land that lies between them and the coveted “view”. For instance, in some cities, reclamation projects have broadened out the land to the shoreline; as a result, a whole new row of buildings come up, obstructing the view of the ones that are now no longer the front-row.
One solution to this to to buy the land in front of one’s building, or to make an agreement with the property owner that any building built on that land will not be taller than X feet. A little more complicated if it’s the sea.
This story from the New York Times illustrates a different idea: New York city restricts the height of buildings. However, one building in a “zone” can give up a few feet to another. This has led to the trading of government-created “air-rights”. The owner receiving the money is made rich by government restriction. In other words, if you have a building of 100 feet in a zone that allows buildings of 200 feet, the government has – by arbitrary fiat – given you wealth you did not deserve.