1031 after development via a lease?

[Chris T.]

I have a rental property that I am planning on utilizing a 1031 into another real estate opportunity. Recently I was approach by a developer to partner with them to redevelop the property on the land from a SFR to townhouses. From my understanding, if I were to go this route I would loose the ability to then 1031 after the sale do to the redevelopment.

Is there a way to structure a sale in which the developer leases the land from me during development. Then do something along the lines of a double closing similar to a wholesale deal where the developer would buy the property from me to turn around and sell it to the new buyer.  Would this still allow me to then 1031 the proceeds?

Not sure it is worth the added legal trouble and risk, but just thought I'd see if it would even be possible.