In real estate development, the term highest and best use was first coined by early 19th century economists to describe how the value of a certain real estate property was obtained. Economists figured that the only way to provide valuation for any real estate property was to establish its highest possible use as well as its best use. The two key words here are ‘highest’ and ‘best’. These two superlatives simply mean that a certain real estate property’s value cannot go any higher because it is already at its best or optimum profitability.
Simply put, highest and best use refers to the optimum utilization of a parcel of land in order to achieve maximum value. The utilization of the land should also be physically possible, legally permissible, financially feasible, and maximally productive. At Land Use Developers your real estate with these four requirements in mind.
Land Use Developers asks the question “What type of use is best for my site from an economic standpoint under current zoning and/or with a minimum of new entitlements?” We go beyond the typical report of this type, analyzing the costs and benefits of various entitlement strategies as well as the political issues and what the community is likely to accept.
Land Use developers will use three basic steps to determine the maximum development potential of your real property.
Land Use Developers will closely work with you in the accomplishment of these requirements because we do believe that the success of your real estate project also becomes our success.