Somerset Properties

Somerset Properties

Highest & Best Use Report

Client: 233107 Wintergreen Road

Date: November 6, 2023

Location: Bragg Creek Alberta, Alberta

Bluerock’s Role: Policy planning; coordination of planning, mapping and engineering; lead policy writing; and graphic layout and design of ASP document.

This Highest and Best Use report explores the optimal utilization of the subject property located at 233107 Wintergreen Road, SE 24-23-05 W5M, near the Hamlet of Bragg Creek within the municipality of Rocky View County.

Highest and Best Use is defined by the Canadian Uniform Standards of Professional Practice as “The reasonably probable and legal use of property, that is physically possible, appropriately supported, and financially feasible, and that results in the highest value.”
Further, Highest and Best Use of a property is an economic concept that measures the interaction of four criteria: legal permissibility, physical possibility, financial feasibility, and maximum profitability.

This Highest and Best Use report encompasses these four criteria with the following:
• Physical possibility thorough examination of the property’s development context, topography, and site constraints including its physical and environmental attributes.
• Legal permissibility through a comprehensive review and analysis of relevant land use planning and regulatory documents governing the land parcel.
• Financial feasibility and maximum profitability through an overview of available infrastructure, adjacent development patterns, concept planning and site yield maximization

This report aims to provide valuable insights to Somerset Property Limited, facilitating informed decision-making regarding the future of this land.