The subject is an R-3 zoned land parcel that totals 10 acres and allows for multifamily land uses, namely apartments. Similar zoned land parcels are selling for $10.00 per SF. The city has recently enacted a new specific plan which would down zone the parcel to R-1. R-1 land parcels allow a maximum of four lots per acre. Currently finished single family lots are selling for $100,000 per lot (includes 25% for developer profit and costs). What is the impact on value if the property IF apartments are built on the site.