Does planned development next door harm my property value?

Although infill developments that fit new
houses into unused bits of land in older developments are all the rage among
land planners, who want to minimize sprawl, in reality, they’re very hard to get
past planning boards, environmentalists and neighborhood groups…. By the time
every group has had its say, there’s no guarantee that a developer will be able
to get the all the density he wants, even if zoning allows it. “Most planning
commissions are sensitive to the loss of open space,” says Washington, D.C.,
urban planner Robert K. McNamara, policy representative for Smart Growth for
the National Association of
Realtors.

…More houses, especially
“tightly packed” at greater – than – existing densities, can’t be possibly good
for neighborhood home values, right?

Although infill developments that fit new
houses into unused bits of land in older developments are all the rage among
land planners, who want to minimize sprawl, in reality, they’re very hard to get
past planning boards, environmentalists and neighborhood groups. Everything from
the impact of traffic to drainage patterns must be analyzed. By the time every
group has had its say, there’s no guarantee that a developer will be able to get
the all the density he wants, even if zoning allows it. “Most planning
commissions are sensitive to the loss of open space,” says Washington, D.C.,
urban planner Robert K. McNamara, policy representative for Smart Growth for the
National Association of Realtors. “Your development may never even
happen.”


More
houses, especially “tightly packed” at greater – than – existing densities,
can’t be possibly good for neighborhood home values,
right?

Except that attitude
is usually wrong.
Read more at the
Realestatejournal
.

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