1. A geospatial modeling system comprising: a geospatial model database for storing a plurality of images of a geographical area and a reference digital surface model (DSM) of the geographical area, the plurality of images each having associated therewith respective first geolocation data with a first accuracy, the reference DSM including second geolocation data with a second accuracy being greater than the first accuracy; and a processor cooperating with said geospatial model database for generating an initial DSM based upon overlapping portions of the plurality of images, and aligning the initial DSM based upon the reference DSM to generate a georeferenced DSM having a third accuracy greater than the first accuracy.