This session continued the cohort’s exploration of the land development process, focusing on how developers evaluate opportunities through deal structure, pricing, yield, and timing—long before a project ever breaks ground. The conversation was anchored by Gilbert Gerst, Senior Vice President of Community Development Banking at Bank of Texas , who emphasized three fundamentals that consistently shape development outcomes: what you pay for the land, what you sell it for, and the time in between. From there, the discussion expanded to include how deal structures and evolving information influence risk, feasibility, and long-term value. Insights from Demarius Seals of DCS Development Services and Jared Helmberger of Bear Land reinforced that land development is an iterative process—one that requires disciplined analysis, adaptability, and an understanding of how product type and yield expectations shift over time.