Commercial corridor highest and best use study — four development scenarios under the Appraisal Institute four-test framework

A consulting engagement commissioned in March 2026 to determine the highest and best use of a commercial parcel on East Colorado Boulevard in Pasadena. Four candidate development scenarios were modeled in full and ranked under the Appraisal Institute four-test sequential framework. The study is a consulting work product prepared under that framework; it is not an appraisal and renders no opinion of value.