The market for transferable development rights in Pitkin County appears to have held up in 2008, as 10 TDRs were sold for between $283,000 and $310,000. A TDR gives an owner the right to add 2,500 square feet to a house above the county’s house-size limit of 5,750 square feet, up to a maximum of 15,000 square feet. About 200 TDRs are currently available for purchase in the county and there are about 215 “receiver” sites where they can be “landed.” By making a market for TDRs, the county persuades people, who probably shouldn’t develop their high-mountain property in the first place, to sell their development rights to other people, who have been granted the right to build or expand a large house in a more appropriate place.
By Brent Gardner-Smith, Dec 22, 2008, Aspen Daily News

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See this website’s Section Aspen Links, Land Use and Planning Resources, for more information on TDR’s