Municipal valuation
Residential Development — Parkland & Community Benefits
Development land valuations supporting parkland contribution and community benefits reviews.
The assignments
gsi prepared development land appraisals to support the determination of cash-in-lieu of parkland contributions and community benefits charges. The assignments involved a range of residential built forms and were undertaken under their respective valuation instructions.
Key considerations
Development density, approval status and the composition of the proposed development were central to the valuation work. The reports required attention to the specified effective dates and assumptions concerning planning approvals. Different built forms called for market evidence and units of comparison suited to the development being valued. The valuation basis needed to remain clear so that the opinion could be reviewed in the context of the particular contribution or charge.
Our approach
gsi reviewed planning and development information and researched comparable land transactions. The analyses considered the relationship between permitted or assumed development capacity and market value. Where a property contained differing residential components, the evidence was assessed in relation to those components. The resulting opinions identified the valuation premises and assumptions supporting the conclusions.
Purpose of the advice
The reports provided independent land value evidence for review by the parties involved in determining the applicable contributions. They connected development information to market evidence while keeping the scope and assumed approval position of each valuation explicit.
Related expertise
Assignment details have been generalized to protect client and property confidentiality.