A land use evaluation assesses the suitability of various land use options. With each option, several factors are evaluated in making a land use decision. One factor is the Highest and Best Use analysis; which, although limited by legal restrictions such as land use regulations, extends through the limitations to consider use and value implications that sometime require atypical solutions. Other factors include the impact of site consolidation and/or subdivision, as well as, partial encumbrances such as easements, right of ways, and covenants, and even tenure, such as leasehold and freehold interests. Land use evaluation is not limited to vacant land, but like Highest and Best Use, also analyzes changing uses where the improvements do not provide the best value for the property.
Land use evaluation demands in-depth knowledge and understanding of land use options, regulations, the market, and investment risk and rewards. Kent-Macpherson’s comprehensive approach to analyzing and integrating these influences assists our clients with their investment and development decisions.