Great job Cyclical! Definitely a reputation comment for you.
I can't access the photos but your descriptive story is plenty to go by.
They are building 63 apartments and a community center so I suspect the smaller car park building will be that (but I'm not sure,it wasn't there 3 months ago).
As far as inflection goes , that site is a good example of it being reached. They bulldozed 106 care beds and now have 90 fully operational care suits instead. It will now be mostly full of full fare clients (rather than the existing guys “grandfathered in” from the demolished beds) .
So you can bet your wad of free cash that the site will be making more money now than before the project commenced. That sizeable area of dirt they have unlocked and are building on is not costing them anything.
It's when the 63 apartments get sold that the super profit rolls in. They also have another potential 74 apartments unlocked and available to build after this lot.
I find it exciting and satisfying to do a site visit like that when you see how your money is being spent and to get an understanding of the massive planning and engineering involved. People who will only buy domestic rentals (and not shares)because they can “touch it” would improve their perception of share investing to see a site like this.
Thanks again for taking the time to post Cyclical, Ill bet you are a little tempted to run that “trade” now?