Developer wants to purchase portion of my land

[Shane Lyons]

We were recently contacted by a real estate developer who desires to purchase a portion of our land(roughly 13'x210', all along the road). We have 2.25 acres. They need this land so they can add turn lanes to our road. They will be building a development across the street and they are required to add turn lanes due to the size. The development will be 170 units(combination of single family homes and townhomes). When they sat down with my wife and I to show us the plans, they said they were hoping to give us 10K for the piece of property.

I am hoping that someone has experience in this occuring and amount of money received. In discussions with our realtor and a friend who owns a development company, their offer is extremely low. 

[Matt Devincenzo]

This post: https://www.biggerpockets.com/forums/32/topics/1148626-neigh... has very similar info to what you're looking for. Pursue an appraisal and then ask for at least that value if not even a bit extra...if you refuse they have to go to court to condemn your property...not doing that has value to them. 

Find a local land use atty who is familiar with these type of cases and lean on their experience.