[mhays]

Tons of variables on that Jmanc.

In a region with growth management and population-growth pressures, outer suburban land won't be as cheap as in some regions. This will be particularly true in the spots that allow density -- growth will be channeled to specific areas (suburban and urban) via zoning and public investment. Those areas will generally be places with transit and retail nearby, which will also help your rents. This land won't be terribly cheap either.

But in most of these regions' suburbs that's a small part of the story. The development equation will start with maximizing units and square footage. This is almost universal in my area. If the zoning is 65', then by golly you do six floors with a retail, or 6.5 by cramming in <7' sleeping lofts on the top or bottom levels. You put the parking below-grade, and if it's rentals include as little parking as you can without impacting rents. And you use every inch of your site.