Financing apartment project

[Gary Johnson]

I have a 4.94 acre tract of land that I think would be a good location for a small apartment project. Not sure how many units I could expect to get on that size lot. Are there any government programs that I might be able to use to finance the project? I have pretty much no cash but own the land free and clear. I had read on another post that since I own the land, financing would be easier to obtain and when the project is completed, it would be possible to make the permanent financing include the value of the land as well. Am I making any sense all ? The property is located in an area with a fairly heavy religious base and there is already a large number of over 50 and retired folks in the immediate area. I'm also wondering if I should consider some sort of retirement community or age restricted housing. Any ideas and suggestions are appreciated. And let me know if you need additional info. Thanks! MJ