Time to build is a very important factor in a real estate development venture. Delay in completion of a project not … failure of a project. A time to build option model consisting of a stochastic rate of completion and a stochastic net project …

We solve a model of time to build, in closed form, for the special case where the only option is commencing investment … variation in the time to build, the uncertainty of payoff and the opportunity cost of foregone cashflows. The two options have …