Redevelopment and Residential Projects

CALIFORNIA - CONNECTICUT - MAINE - MASSACHUSETTS - NEW HAMPSHIRE - NEW YORK - VERMONT - RHODE ISLAND

Redevelopment projects for local city and town agencies have included the valuation of entire downtown city blocks in both before and proposed after conditions.

One such project in California was located one block off the former main commercial center of the city.  The block was improved with depression-era warehouse quonset structures surrounded by a residential neighborhood in decline.  Our valuation included the before value of the existing use together with the "as-completed" value of a residential development transforming the block into a turn-of-the-century village.
In 1999 we completed the before and after valuations of a lakefront site in a suburban Massachusetts community just North of Boston for the town's acquisition of the site.  Local investors who owned the site, and a regional restaurant chain, who had already signed a twenty-year lease agreement had proposed an upscale theme restaurant on the property.

The town, however, sought the land as an addition to its adjoining waterfront park.  The analysis included an extensive feasibility study of the highest and best use of the site demonstrating values in a variety of uses.  Additionally, lake and waterfront influences upon various use/applications were detailed with studies of other sales of New England lake front properties, both improved and unimproved.


         

 

Douglas Guidry is a MAI designated member of the Appraisal Institute
 
Guidry & Platt / 5 Blackburn Center / Gloucester, MA  01930 / Toll Free (866)331-0300
 
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