RSDC will pay the RDA $1,000 for the 12-month option, which is renewable for an additional 12 months.

The option gives RSDC and its partner, which Bauer declined to name at this point, time to pursue the project without having to worry about another developer buying the parcels —a mix of buildings and vacant land— from the RDA. RSDC would still have to negotiate a purchase price.

Bauer declined at this point to provide many details about the plans, including how many apartments would be built and for how much they would lease.