This excerpt taken from the DRE 8-K filed May 3, 2006.
I was under the impression that that land was actually going to be worked. In the next 12 to 18 months, there was the ability to capitalize that carry cost?
Well, theres no. Were not as Matt said earlier, we dont capitalize interest on the undeveloped land until we start a development project. Now so we are going to start two this quarter, and those will capital that land will get off the undeveloped [inaudible] books, and well start capitalizing interest on those. But the rest of the undeveloped land, we dont capitalize on until we start the development.