Abstract
Abstract Abstract On June 26,1978, the United States Supreme Court, in a 6-3 decision, handed down its ruling in Penn Central Transportation Company v. City of New York 46 U.S.L.W. 4856,30 ZD 434, holding that restrictions on the development of the Grand Central Terminal did not amount to a taking of property, since Penn Central could transfer the development rights to other properties and a reasonable return on the property was allowed. Opinions differ as to what the case actually says and what its effect will be. On the one hank, it has been hailed as a landmark decision for landmarks, and, on the other, it has been described as a non-case, cir-cumventing some important issues concerning police power regulation and eminent domain. The following comments analyze the decision and the effects it will have on historic preservation and development rights transfer, and the police power and eminent domain.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
