A Highest and Best Use (HBU) study is a complex task that explores alternative potential use scenarios to maximize the owner's economic returns. The result determines the use that is legally permissible, physically possible, financially feasible, and most profitable.
Some clients have already addressed the legal and physical aspects internally and ask us to focus on financial feasibility and profitability. Repositioning studies also involve many similar considerations.
In practice, these projects may include a variety of uses, such as retail, residential, and office space. The most exciting aspect is the introduction of a new concept that adds a service element to these three. With independent full-service, especially luxury hotels and resorts, becoming increasingly rare, branded residence components are becoming almost standard.
