Q&A
Breakdown of Open Door public sites versus private sites
0:38:02
·
38 sec
Deputy Commissioner Kim Darga explains the distribution of Open Door projects between public and private sites.
- About three-quarters of the Open Door pipeline consists of public sites
- Public sites are advantageous due to free land availability
- Private sites are more expensive to finance due to additional land acquisition costs
Adrienne E. Adams
0:38:02
Do you have a breakdown on open door public sites versus private sites?
Kim Darga
0:38:07
So in open door specifically, about three quarters of the pipeline is public sites.
0:38:14
And I think one of the main reasons for that is what I mentioned a moment ago, which is that on a private site, it can be much more expensive to finance any project.
0:38:27
The advantage on a public site is that we get free land.
0:38:31
Right?
0:38:31
And on a private site, we have to figure out how to finance the land cost or acquisition cost in addition to developing the real estate.
