Hello Jim- there are many reasons for this. I don't know that development per se, I'm just guessing here.
The answers will vary.
They may have a new condo fee (reserves) assessment to pay for new roofs at all the buildings, etc. That might be a 1 time fee of $3000 for each unit, on top of their regular condo fees, etc, etc. There may be things like that happening that the listing agent may not be quick to tell you.
If you want me to dig into it a little bit further, I know some people up that way- be happy to check into it a little bit. Thanks, and good luck,