Undervalue..........You posted right over it without blinking an eye? TorontoJay gave us a number $18,000 or more in Aurora for a serviced lot, per lineal foot of frontage. I know what that means for a 50 foot lot. Like what we have in Highland Gate. Like they said, easily $1M per lot.
So Thank you TorontoJay for that. Undervalue, where is the profit in cash on these house closings?
IMO the "delay" you mention in getting this project off the ground should probably have helped the profitability of these JV homes, since the land value has gone up so much in the recent past.
So Undervalue, what is our cost basis in Highland Gate BEFORE the JV with Geranium was formed?
What is our capitalized cost basis now? Can you figure a cost basis per remaining house/lot, forgetting the value of the multi family structure that will come at the end of the project, I guess.