Capital gains or ordinary income?

[Peter Lee]

Say if I entered into escrow on a property, went through entitlements, and put in money to develop the project, and upon successful achievement of entitlements sold the property for a higher price than what I was in contract for, would the profits fall into the category of capital gains or ordinary income (like in a wholesaling transaction).

Will reach out to an accountant in a couple weeks but curious to what people generally do in this circumstance.

Thanks in advance.