Critical Reasoning

sam117 wrote:You say that "A developer who wishes to make a large profit would be wise to buy urban waterfront lots and erect residential buildings on them." is the claim we are asked about.

In my opinion this is not a claim about urban waterfront properties but about developers who wish to make large profit.

well, the claim is highly relevant to both of those things.
as for which association is important in the problem at hand -- that depends, of course, on context (like everything else in the world of critical reasoning).

analogy:
chocolate can kill dogs.
this statement has to do with chocolate, but it also has to do with dogs.
if you are reading a passage about canine nutrition/mortality, then, obviously, the association of this statement with dogs is more important. on the other hand, if the passage is about the potential toxicity of chocolate, then it's suddenly a statement about chocolate.