Royce/Sullivan PUD Valuation
A Planned Unit Development is permitted under very specific requirements and within a limited timeframe for completion. When one or more of the permitting criteria near expiration, the inherent value of the remainder of the project plummets. To determine the remaining value of the project an evaluation of its aspects completed to date, market feasibility of the remaining aspects, and ability of the owner or its successors to complete the project prior to expiration of the PUD is necessary. Evaluation of the Royce/Sullivan PUD’s determined that the potential to and value from completion of these projects was minimal. The findings were presented as part of a court preceding regarding the availability of corporate assets.