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33433 Report-1103 Davis Street <br />Jtriv 200.5 <br />will be an effective way of managing traffic around the development while minimizing <br />interference with pedestrian traffic on Davis Street. The proposed development will add value to <br />the project area and its immediate vicinity, improving the appearance of this major entry route, <br />and removing a major source of visual blight, a vacant lot, that has been in existence for more <br />than 15 years. <br />CONCLUSION <br />The challenging conditions involved in new infill construction in general and on this unusually- <br />shaped site in particular, and development requirements from both the City and Agency, lead to a <br />reasonable expectation that the property's value is consistent with the appraised market value of <br />X520,000. In summary, the land price is approximately $20 per square foot of land. <br />G'\DI~P~10t9ice of Business Development~Files RDA\PlazaU 103 DavisUangon live-work~33433 report.doc <br />Page 5 <br />