Transferable development rights

Transferable Development Rights (TDRs) are a way for people to use their land for something other than what it was meant for. For example, if you own a piece of land that was meant to be a park, but you'd rather use it for a shopping mall, you could use TDRs. With TDRs, instead of building the shopping mall on your land, you would transfer your development rights to someone else. This means that instead of building the shopping mall on your land, you give your development rights (the right to build something on that land) to someone else. That other person can then take your development rights and use it to build something else on their land, like a park. So, by using TDRs, you get to use your land for a shopping mall and the other person gets to use their land for a park.