The speculative development is a financial risk, he said.

The recession and continuing tight credit conditions have all but ruled out most speculative development, people in the industry say.

"I don't see speculative development in the short term," he said.

Purchasing unused land for a potential development is sometimes called speculative development.

The town was laid out as a speculative development in the 1770s by James Braddock.

"And for very speculative developments, I don't think there's any money available," he said.

But these projects are usually less profitable for developers than speculative developments.

All of it has been build to suit, however; no speculative development.

"There are vast amounts of land in the state held privately for speculative development or by the public sector through zoning."

Again we see the eternal confrontation: between heritage conservation and "speculative development" of a city.