Quote from @Ben Glaser:
@Ronald what is "FAR"
@Tammy Renee Johnson - I'm walking through the same process. The expense to build a steel frame building right now is pretty high. I was looking at 1.5 acres (~40,000 sqft usable). It looks like I might be able to put about 8 units on it. There's a lot of factors such as setbacks, parking, water control, etc. Not as simple as 20,000 sq ft built on a 40,000 sq ft lot.
For anyone that reads this, that has way more experience than me. Please reach out. Would greatly appreciate talking to someone.
I normally budget for 28% building coverage when looking for land. In certain cases, it could be as low as 25% or high as 35%. My assumptions are:
1. Relatively flat topography
2. No floodplain
3. Standard storm water detention requirements