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B. Other Potential Reasons TIF Stalled in North Carolina. In addition to the multiple alternative financing schemes available in North Carolina, a number of other environmental factors may have contributed [...]

This article analyzes capital switching practices in the real estate development sector. The leading practitioners in Canada, the Canadian-based real estate companies, are the subject of this inquiry. The tradability and divisibility of real estate properties enhance the growing similarity between real estate properties and other financial assets. It is appropriate to talk about portable real estate portfolios because companies constantly rearrange their property composition. This article emphasizes the `three dimensions of capital switching'. These dimensions unpack significant corporate considerations in the deployment and redeployment of capital, namely, mode of operation, property type and location. With respect to office development, the trajectory of the major real estate companies over the last 20 years has accommodated two notable shifts. First, these companies have focused on larger and newer properties, disposing of their smaller and older assets. Second, they have funneled a growing share of their capital assets into the top-tier cities of the Canadian urban system, reducing investment in other metropolitan areas and disinvesting in the small-to-medium sized cities. Cet article analyse les pratiques de permutation de capitaux dans le secteur de la promotion immobiliere. L'etude porte sur les principaux acteurs canadiens, c'est-a-dire les societes immobilieres basees au Canada. Les possibilites de commercialisation et de division des biens immobiliers accentuent leur similitude avec d'autres actifs financiers; on peut parler de portefeuilles immobiliers transferables puisque les societes reajustent constamment la composition de leurs biens. Cet article souligne les `trois dimensions de la permutation de capitaux'. Celles-ci expriment d'importants criteres de reflexion pour les entreprises quant a l'utilisation et la reconversion du capital, a savoir le mode d'exploitation, le type de bien et son emplacement. En ce qui concerne l'exploitation de bureaux, les grandes societes immobilieres ont connu, au cours des 20 dernieres annees, deux tournants importants dans leur ligne de conduite. Tout d'abord, elles se sont consacrees a des biens plus grands et plus recents en se debarrassant de leurs actifs anciens et de petite taille. Ensuite, elles ont concentre un part croissante de leurs immobilisations dans les grandes villes cotees du systeme urbain canadien, reduisant leur investissement dans les autres zones metropolitaines et desinvestissant dans les villes de petite et moyenne envergure.

The author discusses the equitable apportionment doctrine in relation to the taxation of real estate development costs, which requires developers to receive tax benefits from improvement depreciation, rather than tax deductions when residential lots are sold, where the developer retains proprietary rights.

The author examines mezzanine financing and land banks, including their tax and accounting concepts, as means of residential real estate development financing in comparison to conventional financing methods.

A study was conducted of the policies of top multiple retailers in the UK in terms of property development, ownership and investment. The results indicate that retail development sunk costs at entry and exit are usually incurred by companies outweighed by the long-term growth of land and property values in the UK. Therefore, sunk costs in retail development may not be as significant as in other types of private enterprise.