Rolling Valley: Discovering Highest and Best Use
Michetti, Matthew; Oliver, Pike
This case introduces students to many of the real estate issues faced when evaluating a real estate development opportunity with an emphasis on market assessment and financial feasibility. Over a two-week period, Brian Langston, a Development Associate and new hire at California-based land developer CALD, is tasked with making a recommendation regarding a 150-acre suburban parcel in Rolling Valley, California, called Village Green. The decision boils down to whether an entirely single-family community or a mixeduse community provides a greater residual land value for the project. Brian must make a recommendation to CALD’s partners in a way that recognizes and balances qualitative forces with quantitative metrics, and represents a viable project in either case.
Cornell Real Estate Review
Volume & Issue:
Cornell University; real estate; residential development; use selection; feasibility analysis; residual land value; market assessment; financial feasibility; market assessment and financial feasibility; master-planned; residential; community; market; subdivision; soft costs; site; amenities; walkability
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