A residential development has 2 years construction period. The total development cost of this project is $23,000,000 and the GDV of the project is $48,000,000. Assuming the developer’s margin is 15% of the GDV, calculate the land value.

Just provide the final answer.

Minimal

operating costs are not important to investors in marketability analysis.

Forecasting and planning for a proposed

development require knowledge of only the current market trends.

Property financing is a structured process to ensure that the developer delivers on the stated goals.