One Young (née Mayfair Hotel) | 5 fl | Complete

[mpd618]

Why would you own a piece of land, and then not do anything with it?

(this may seem like a stupid question but honestly this baffles and confuses me, and I'm just trying to understand the situation)

A few possibilities that come to my mind:
1) You think the property will be worth more in the future, either because the city will change or perhaps the zoning might change.
2) You want to redevelop, but think you will have better demand in the future and you can sell / lease for more when you do build. And in the meantime your property taxes are lower.
3) You're waiting for a lot consolidation opportunity, which could allow for a larger redevelopment than you can do on just your own property.
4) You want to redevelop but your capital and attention are deployed elsewhere.
5) You don't really care about maximizing your value, for whatever reason.