Creative Ideas required for Development Site Funding

I have a block of land with a knock down on it on the Sunshine Coast. I have had the block for 2 years and the DA has finally come through for 5 luxury Town Houses. I am in a situation where I have a mortgage on it with the bank and a second from a short term lender. The short Term money is killing me at the moment and I need to get out of the deal. The problem is the Valuers in the area are all sitting on there hands due to the current market situation. The other issue is that some family have put money in the deal and this does not sit well with them as it has taken so long.I see my options as follows:

1. Sell and take the hit now (Currently on the market)
2. Bring in a JV Partner to get rid of the Short Term and do the build
3. Put the land up as a swap deal for something to clear the short and then try and sell remaining?
4. Somthing more creative???????????????????????????

I would appreciate anyone's ideas on this one.

Thanks

BJMACA

"Stress is a wasted emotion!"