Utah County land development profit numbers

[Matthew Porter]

I'm just getting into residential real estate development in Utah County. My goal is to find raw land, take it through the engineering and entitlement process, and sell approved preliminary plats to developers that will finish physical improvements. 

I have a close contact who retired from land development after the financial crisis; the profit numbers he would always forecast back then were roughly $20k/lot for entitlement (if the project was sold as a preliminary plat) and another $20k/lot for physical improvements. Are these numbers still accurate? If not, what profit are developers typically expecting?

Thanks in advance