In considering the suitability of the improvement for the site, it is necessary only to repeat what has been mentioned in the two articles relating to mortgage loans. To obtain the full value of the land the improvement of a site must be of a character that is suitable. No better illustration of this can be cited than in the fact that wherever it is found that a site is suitable and available for an apartment house of twelve stories in height, the land value has materially increased. If the purchaser of such a site should restrict his improvement to a six-story building, he would find that the property as an investment would not pay an adequate return, due to the excessive price of the land. In other words, property is worth a good deal more if it is suitably improved than if it is not.

Some of the greatest changes in land values in New York have been due to the foresight of those who have discovered that some particular locality is suitable for an improvement of a character not before considered suitable and of such high class as to increase materially the land value for this particular character of improvement. The effect upon the land values of adjacent property is at once felt, and entire localities have been rebuilt in a short time in different sections of this city, the price of the land rising to meet the new level of value established by the new character of improvement which had been demonstrated to be suitable for the locality. It is, therefore, most important in valuing property to see to it that the improvement is suitable to the character of the location, and if it is not, the land value must be considerably discounted.