Highest and Best Use Study

Issue: What is the best use for a small lot containing a bus station which located in the heart of a Central Business District?

Approach: First HMG considered the economic viability of the city’s CBD. We studied sales and rents gathered from around the country for bus stations, and data from ground leases and industrial and office properties. Having concluded that the land is more valuable vacant than as improved with a bus station, HMG projected future potential for the site by itself and as if an assemblage were possible for an urban mixed-use project.