Built by developers, for developers

The Pencl journal

Notes on whether deals pencil.

Feasibility, land math and the habits that keep developers from overpaying — written by people who have signed the note.

2 posts in Land math

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  • Land math

    Lot yield before engineering: where the lots go

    Setbacks, easements, detention and road frontage quietly take lots off the plan. How to estimate yield honestly before you pay for engineering.

  • Land math

    How to net raw acreage down to a real lot count

    Gross acres sell land. Net acres build lots. Here is the order we take the deductions in, and why the first pass is almost always too generous.