Hello there!

I live in an area of the city where there are a number of homes that have been neglected over time and they currently sit boarded up wasting away.  Rumor has it the owners won't sell - and in some cases have a 99 year lease on the land to mega-developers.  Regardless, every day I bike past and say to myself there's got to be a deal that could entice even the most stubborn owner to sell.  But what would it likely look like? 

Any development would involve establishing a price that included a home that would clearly need to be demolished - likely causing an inflated price for the land from the outset. With careful design considerations I am sure a new home's program could support a proforma that would still pencil out.  There would be the cost of the land, soft costs for designs and permitting, construction lending and ultimately a for sale product. 

The neighborhood has a fairly good spread in home prices - ideally helping keep the purchase price low and supporting a higher sale price for the future home.  A relatively low inventory has created a steady housing demand further supported by local amenities, shops and restaurants. 

How should one go about getting others on board (OPM) with the plan and what sorts of examples have worked in the past to convince stubborn owners to sell? 

Thanks!