This excerpt taken from the UDR 10-Q filed Nov 9, 2006.
8. COMMITMENTS AND CONTINGENCIES
United Dominion is committed to completing its real estate under development, which has an estimated cost to complete of $53.7 million at September 30, 2006.
United Dominion has entered into two contracts to purchase apartment communities upon their development completion. Provided that the developer meets certain conditions, United Dominion will purchase these communities for a total of $76.5 million.