- 16 -
healthy annual appreciation rate, and an aggressive sellout or
absorption of the project.
Number of Lots
The first value difference that must be reconciled is the
determination of the number of lots into which the Property could
have been developed. While both Mr. Flint and Mr. Sullivan were
qualified as expert witnesses, we find that Mr. Sullivan's local
experience and hands-on knowledge with respect to the development
of property more persuasive. Therefore, we give greater weight
to Mr. Sullivan's subdivision plan, which obtains the maximum
benefit of the available land. However, Mr. Sullivan's plan
employs an access road over a portion of land retained by
petitioner. Without an easement for this road, several of the
lots would be inaccessible. The record indicates that petitioner
did not deed such access in his conveyance of the Property to the
Commonwealth.10 Petitioner testified that he would have
transferred such an easement if he had been requested to do so.
Nevertheless, respondent argues that if the Property is appraised
assuming access could be acquired, then there should be a
10Although petitioner did not grant the Commonwealth an
easement for automobile traffic as required in Mr. Sullivan's
plan, he did grant an easement over a different portion of his
remaining property to access the Property for pedestrian and
bicycle traffic.
Page: Previous 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 NextLast modified: May 25, 2011