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I don't want to convert it but can't you build apartments on it our something?
You'll need to talk to your city zoning reps. It's possible, sometimes, but it depends on the location.
You're also going to need a massive starting investment to build apartments, fair warning. You could try and sell the land to a development company but that seems counterproductive to what you're trying to accomplish.
I also find it incredibly frustrating that mortgages can't be taken out to have a home built... There's land for sale where I am that can be residential, but I don't have the money to build and the only people that do are the developers that build McMansions when we need starter homes...
That would be converting it to residential then.