Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1928-11-25

Rr4t NAN CAslhu OF n series OF
Acts prepared by the National
association of Real Estate Boardz
Ds published weekly in this
4. "spsper for the information Of
'.aoers on real estate matters.
49, = Part ii Of story on the
s1est and best use OF income
rJaucing property. Story TX for
ease december 2 will deal with
1ne highest and best use Of resi-
oential property.
lIuslness buildings Do not tower
- above the streets of U cities
~, TO give tourists something to
~ 80 a. says the National Associa-
wi Oh Real estate Boards in the
s.sohn OF four bulletins on the high
~ M best use Of urban real estate.
.he height Of modern commercial
uelures, their architectural de-
ana interior arrangement is
$1,000 upon the income such build
- viii produce. A skyScraper will
"k the largest return TO one piece
-, ,ty ground and a one story hall
IN BRING the largest return to
aloaner; nor will guess work reveal
wat height IL best.
III fart | of it's bulletin on the
a.snest and best use of the land the
association pointed out that there
Z proper use for every urban
81 estate lot. and that maximum
sa,aes cannot be realizes for land
Sess the structure on IL il actually
~ the highest and best use Of its
'Ne, This principle applies with
equsi force TO residential and income
producing property.
Inc highest and best use for in
eome producing property Is a sub
lset that requires the most expert
Psugment and Is a subject into
shicn y IS not wise for the layman
70 venture unsssisted. Modern real
estate specialists engaged in determ-
ming the best use OF the land an
awe, test. and exhaustiyely study
we various factors involved in this
SUBJECT before rendering an opinion.
Progressive Towns Best
In locking ahead 10 determine how
sustained a given use may be for the
isnd, II must be remembered that
the general wealth Of the people in
= city where the property IL located
VII have q marked influence upon
tne level of the values. and that
tne quantity and class Of its indus
tries will be reflected in the land
values. A city which il progressive
VIII tend TO develop higher and more
not so progressive. Cities differ in
their major activities and their gen
ersl business conditions. This ere
ates variations in the competition
Tor properties, in the level Of values
and the demand for certain types of
property. Therefore the character
OF the city itself has much to do
with the question Of whether a Civ
en- Development of land for its high
est and best use. AS q city il small
or large. or more or less progressive,
certain types of buildings will. or
will not. proper. This applies 10
homes as we'll as income producing
properties.
Even after the right kind Of build
ing has been determined. there Is
much work 10 be done in arriving at
the highest and best use for com-
mercial properties. A nationally
known organization whose business
u IS TO place large loans on
eisl property was asked 70 finance
construction Of an office build
nc on q site near the tremendous
Grand Central Station in New York
City.
Location Determines Type
In determining the type of build
ing best suited to this site, il has
been ascertained that the area would
support an office building. but the
leaning organization as we'll as the
owners desired TO know how tall the
structure had better be, what kind
Of interior arrangement 10 follow.
and what might be expected in net
income from the project. IL is sig
nificant that the loaning organiza-
ton had 10 know these things before
agreeing TO finance the undertake
ing.
A real estate specialist, aided hv
several architects. engineers and con.
tractors. drew up plans for many
different buildings Of various design
snd from forty to one hundred sto-
ries high. Then the cost OF each
structure vas ascertained and an
sslysis made Of the income each
could be expected 70 produce. These
experts finally agreed that this piece