1031 exchange into self-owned property to develop further

[Larry H.]

I own 2 properties outright, A and B. Both A and B are multi family apartment buildings.

The properties are worth around 1.5-2m.

I wish to keep A but sell B; preferably in a tax-deferred manner.

A is in an area that has been rezoned and I wish to tear down and rebuild the property as the current building is old and I can get more than 4x the square footage because of the new zoning changes.

Is it possible to sell B and use all of the proceeds to fund the development of A in a tax-deferred manner?