Evaluation Decision Support Models: Highest and Best Use choice

Spina, Lucia Della

doi:10.1016/j.sbspro.2016.05.323

Cited by 14 publications

(23 citation statements)

References 11 publications

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“…The application to the case study focuses on the potential reuse of some historical fortifications located along the coasts of the Strait of Messina. The results obtained show that the proposed model can be a useful decision support tool in contexts characterized by high complexity and that it is able to guarantee the transparency of the decision-making process for the construction of shared development strategies, in which it is necessary to highlight the elements that influence the dynamics of choice toward the best reuse project that reaches an optimal balance between conservation and usability [40][41][42].…”

Section: Introduction and Overviewmentioning

confidence: 99%

Adaptive Sustainable Reuse for Cultural Heritage: A Multiple Criteria Decision Aiding Approach Supporting Urban Development Processes

Spina

2020

Sustainability

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The European Union identifies the cultural heritage of cities as the main driver of development strategies. From this perspective, adaptive reuse can play a decisive role not only in terms of increasing the life cycle of the heritage but also as an urban strategy capable of generating new economic, cultural, and social values, thus supporting innovative dynamics of local development. The aim is to propose an integrated evaluation model based on the combined use of multi-criteria techniques, which helps to classify adaptive reuse strategies of unused cultural heritage assets and supports decision-makers in the implementation of development strategies in vulnerable contexts. The case study focuses on the potential reuse of some historical fortifications located along the coasts of the Strait of Messina in Southern Italy. The results obtained show that the proposed model can be a useful decision support tool, in contexts characterized by high complexity, able to guarantee the transparency of the decision-making process, and in which it is necessary to highlight the elements that influence the dynamics of the choice for the construction of shared development strategies.

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Section: Introduction and Overviewmentioning

confidence: 99%

Adaptive Sustainable Reuse for Cultural Heritage: A Multiple Criteria Decision Aiding Approach Supporting Urban Development Processes

Spina

2020

Sustainability

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“…Both IVS (2020) and EVS (, 2017), RICS Red Book are not consistent and homogeneous to the interpretation of determining the market value of real estate under the assumptions of “highest and best use.” Generally, the “highest and best use” is an appraisal concept that in the view of different possible uses of property allow for reliable estimation of market value (most probable). More wider consideration H&BU concept involved sustainable development that should consider development in the short and long term, consistent with social, economic, and environmental objectives (Calabro & Spina, 2013; Spina, 2016). However, the consideration of real sustainable development regarding conditions in determination of H&BU of property must be correlated with profitability.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Shift‐share analysis can be used to study changes in population and income, in addition to changes in employment. Spina (2016) included H&BU choice based on AHP together with Delphi Method to conservation and reuse of the historic building. According to authors (Morano, Locurcio, & Tajani, 2016; Spina, 2016).…”

Section: Literature Reviewmentioning

confidence: 99%

“…included H&BU choice based on AHP together with Delphi Method to conservation and reuse of the historic building. According to authors(Morano, Locurcio, & Tajani, 2016;Spina, 2016). The technics among machine learning and massive data processing technology are used in order to detects changes in building conditions in sustainable maintenance decisions(Mi skiewicz, Bruski, Chró scielewski, & Wilde, 2019;Ziółkowski & Niedostatkiewicz, 2019;Ziółkowski, Szulwic, & Miskiewicz, 2018).Many authors claimed that accurate and rational H&BU indication of the area can be conducted on the basis of particular case study.…”

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Property sustainable value versus highest and best use analyzes

Walacik

Renigier‐Biłozor

Chmielewska

et al. 2020

Sustainable Development

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Sustainable development of all the urban environment elements (including properties) is a very information requiring decision making process that absorbs data from many different fields. Since economic aspects of that kind of development are one the fundaments of the concept, property assessment procedures quite often support sustainable development. The current market value definition interpretation provided by valuation standards of international rage (EVS, IVS) and highest and best use of property (H&BU) have also become widely discussed and troublesome issues. The discussion is vital due to the fact of H&BU consideration in wider context, including sustainable development and sustainable value. The authors in order to improve clarity of the paper proposed a definition of sustainable value. The use of modified methods of sensitivity and scenario combined analysis as a solution enabling sustainable value quantification with the use of H&BU property assessment theory and practice was proposed. The obtained sustainable value coefficient, determined according to proposed methodology, enabled consideration of all the highest and best use tests. Additionally, it enabled consideration of sustainability context. It was described by maximal productivity of property strongly correlated with socioeconomic and socio-cultural phenomena. Highlights 1. The concept of sustainable development involves much more than the "green" issue, thus can create an added value for real estate analysis (especially based on "highest and best use" assumptions). 2. Even though the "highest and best use" notion has been defined its' interpretation causes many ambiguities and problems. 3. "Highest value" is a condition that requires taking into account all the circumstances (physical, legal, financial and productivity) with maximum: return rate/ developed area/increase of build-up area. 4. Maximal productivity in highest and best use context means directly not to give any decreases in sustainable value or/and give possibility to increases the sustainable value in the future. 5. "Sustainable value" can reflect not only economic issues (reflected directly by property value) but can exceed its' meaning to a broader sense including

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“…The growing demand for public investments, necessary to reactivate the economy of European countries, must be combined with the need to create works that are useful to the community and shared at all levels [24][25][26][27][28][29][30][31][32][33][34][35]. Rigorous and transparent preliminary analyses able to outsource the needs of the community in advance, as well as the technical, procedural, economic, and managerial obstacles to be faced, are needed [36][37][38][39].…”

Section: Introductionmentioning

confidence: 99%

Cultural Heritage: A Hybrid Framework for Ranking Adaptive Reuse Strategies

Spina¹

2021

Buildings

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The purpose of this research is to illustrate, through a case study, a multilevel decision-making process able to support the decision maker in optimizing investment choices for the efficient allocation of public resources, with specific reference to recovery and adaptation to the reuse of unused historical public heritage. During the evaluation process, two methods in particular were combined according to a multiphase design: (i) a multi-criteria analysis to identify the highest and best use among alternative reuse scenarios and (ii) a discounted cash flow analysis to support verification of the financial feasibility of the investment, in the hypothesis of an enhancement concession in a public–private partnership. Each method was applied in parallel to the evolution of the different design scenarios. The results of the study show that hybrid approaches are a promising line of research in the field of evaluation and urban design, applied to cultural heritage.

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Evaluation Decision Support Models: Highest and Best Use choice

Cited by 14 publications

References 11 publications

Adaptive Sustainable Reuse for Cultural Heritage: A Multiple Criteria Decision Aiding Approach Supporting Urban Development Processes

Adaptive Sustainable Reuse for Cultural Heritage: A Multiple Criteria Decision Aiding Approach Supporting Urban Development Processes

Property sustainable value versus highest and best use analyzes

Cultural Heritage: A Hybrid Framework for Ranking Adaptive Reuse Strategies

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