Once you buy a piece of land you have no right to develop on it until you get all of the approvals. Until then you're a speculator, and one of the risks of speculation is that the municipal planning and land use policy will remain the same and allow you to develop that land. Thankfully municipal governance trumps the rights of developers to return a profit on a piece of land. Because you know, democracy matters more than the interests of a specific land speculators.
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