1. What does this phrase mean? "Highest and best use" How does its application to a given site operate through changes over the years?

2. The cost of land in Toronto in 2018 was about $200 per s.f. of GBA (Gross Buildable Area) not the gross area of the site. Explain the difference and what that difference is a measure of.

3. Why is a negative cash flow to be expected in a development project in the early years? Using what analysis is it "discovered" or shown?

4. Banks will not lend money until approximately 75% of the units are sold. Explain what this means to you the developer and to the design and construction sequence and schedule