The current lower height street lighting under the Runway 12 arrival over the Majura Parkway compared to the balance of street lighting on the Parkway points to a need for a short-term safety improvement supplied by a displaced threshold.
Perhaps the need for the safety of the many thousands of motorists who use the Parkway at night (thus requiring lighting that matches the rest of the road) outweigh the needs of the few GA aircraft that land on 12, and who can in all likely hood continue to do so albeit with a displaced threshold?
It would appear from the Master Plan that the Runway is to be shortened to allow for higher road lighting, not for developing property in the undershoot as asserted