RE:Provincial math.The Polygon Madison JV owns roughly 70% of the Silverdale lands.
Central was planned for 10,000 doors.
The JV in total was getting 7500, with their share of the singles 1338 doors.
So, 6100 multi doors.
Of the 16,000 possible on the single lots described above, the jv would represent 11,500 doors.
Sum, 17,600 for the JV. Madison's 50% is 8800.
Recent trades in the Archer Green are aprox 750k for 1500 ft.
Altus pegs construction costs around 200 a foot. Implying 450k for land,service costs, dcc charges etc.
The market is around 200k per townhouse lot raw.
Take half that at 100k, MPC could have 880 million, rolling in from Silverdale Central. There are 2 zones to go after central.
That is $14 a share. $28 if the market holds or goes up.
And this is just from a jv that is carried on the books for well less than a dollar bv.
We had a high number for NAV over $20 a share with Silverdale at 500 million.
The new zoning regulations could make target much higher.
Any share price weakness from the CRA case outcome should be jumped on.