This assignment involved the appraisal of a half-city block comprised of numerous individual lots, with varying degrees of historical structures, facades and uses that required individual treatment in the context of maximizing the value of the block. The client, GSA, provided an historical audit of the structures, along with recommendations for historic preservation but with only overall development density guidelines. At least four different land uses were proposed for the site, requiring a development analysis or anticipated use approach to valuing the whole, composed of varied component parts.

Several key sites within the block were already redeveloped and there were development densities that could be transferred from one site in the block to another.

Key points of the appraisal included:

• A comprehensive study of land uses within a multi-block area surrounding the subject property.
• An analysis of the changing nature of the neighborhood. This presented evaluative challenges to project demand for uses not currently in the neighborhood.
• An evaluation of proposed developments surrounding the MCI Center and their individual and collective impact on redevelopment of the subject property