I work for a firm that owns a relatively large site in CA.
The firm has received great offers for the site in the past, but has decided to keep the property for development.
It's a great site in a desirable SFR area, however land values there are very high so this makes overall opportunity cost of selling instead of developing high as well. Perhaps the land is valuable enough to serve as equity in a development, but not sure how lenders would underwrite that contribution.
Does anyone recommend any processes to help decide which product type may be the best fit for the area? Market study data sources/metrics to look at?
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