had extensive corridor valuation experience
either in the USA or Canada. As such, we
assigned three members to read and discuss
each author’s submission. If we agreed that the
submission should be in the book, we wrote
our critiques and asked for modifications
or more detail in the writing. This was not a
simple task as some submissions went outside
the original scope of the book. In the end, we
included several of these as they were useful
in adding to the overall body of knowledge for
corridor valuation and impact. The steering
committee screened the content and the
Appraisal Institute employed professional
editors to complete the publication.
5. What were some of the biggest
challenges you faced and how did
you overcome them?
The initial challenge was to decide the depth
and breadth of the book. We eventually
decided that we would focus on valuation in
the USA and Canada so we could provide
value to our 10 regions. A USA-centric
book would not serve a large number of
our membership and a book attempting
the encompass corridor theory around the
world would have been so complex as to be
unachievable. We also did not receive the
amount of submissions we deemed necessary
from our first RFP. We refocused the RFP,
directing it to specific authors we believed
would be useful contributors.
6. How was your experience
partnering with the Appraisal
Institute and the Appraisal
Institute of Canada?
Partnering with the AI and the AIC
was one of the most rewarding parts of
this project. All three associations trust
each other and work well together.
The most complex part was that three
associations would agree to share in
a publication that furthers a body of
knowledge. The Appraisal Institute
has a vast amount of experience in
publication, so we all agreed the AI
would be the publishing entity. Tep
Shea-Joyce, the Senior Manager of
Publications with the AI, was a joy to
work with. She and Richard Marchitelli
shepherded us through a very complex
All three associations agreed we
would equally share in the publication
expense and income. As such, we
were able to produce the book in
a very cost-efficient manner. The
USA authors supplied chapters that
sometimes only apply to USA law.
Similarly, our Canadian authors
addressed issues more applicable to
Canada. The AI and the AIC have let
us know that the Corridor Book was
a successful partnership and we have
made a contribution to the body of
knowledge about corridor valuation.
I believe there is interest in additional
projects in the future.
7. How can IRWA benefit from
further partnerships with other
The IRWA has a focus on all
components of infrastructure. We
have property managers who could
benefit from partnering with property
managing associations such as BOMA
(Building Owners and Management
Association) and IREM (Institute of
Real Estate Management). Similarly,
our engineers and utility professionals
will have other associations that
cross over into other primary areas
of expertise. Partnering with these
organizations would expose them to our
Association and our members.
8. Who should purchase this
book and what will they gain
from reading it?
Foremost, real estate appraisers are the
primary target. This publication is also
valuable to any entity that is involved
with corridor matters. Additionally,
municipalities and DOTs often deal
with railroads when they need road or
bridge crossings. Corridor valuation is a
complex issue. This book allows insight
into what makes a corridor valuable.
Some corridors do not contribute value,
so it is important to understand all of
the factors. The book also has a chapter
on “Rails-to-Trails” which is applicable
to USA law. This is a different type of
valuation and can easily be mishandled.
Corridor Valuation: An Overview
and New Alternatives (ISBN:
9781935328759) is a 240-page soft
cover book. It is available for $50 for
the print or PDF version, or $70 for
both. Call 888-756-4624 or order
online at www.appraisalinstitute.org.