[someone123]

Looks like they added the HRM "capital contribution" to the value of the land, which is totally meaningless. This is just sloppy reporting - it is almost certain that a private developer would fund the construction of the housing and that the total value of the project would be much higher than $7.7M.

The actual plan seems to be to trade off part of the land in exchange for some new development and some improvements to public amenities (public buildings, playground space). Given the fact that this is currently an under-used, under-developed, money-losing site, this kind of development makes perfect sense. I just hope they keep it simple and move forward with it in a timely manner.