Business expansion set to decimate home values

[child of wonder]

I live in a small town outside the Twin Cities and we recently discovered a local industrial business is planning to expand. Sounds good for the community, right

This week we discover they're expanding just on the other side of a soccer field across the street from our house. As part of this expansion they're cutting down all the trees that line the far end of the soccer field. Rather than looking south across the field and seeing trees, we'll now see and, more importantly, hear this new industrial complex.

Realtors have estimated our property values could drop 10-20% because of the increased noise and traffic from this new expansion. We're planning on attending the next city council meeting to talk to the city about this and voice our concerns

Anyone else have something like this happen to them? If our worst fears comes true are we basically boned or can several of us neighbors hire legal representation to do something about this?

I want our local business to expand, but not at the expense of nearby home owners.

 

[DrPizza]

What's that area zoned for?

 

[child of wonder]

It was an empty, grassy field prior to this expansion.

So either it was already zoned industrial or was recently done so to accommodate this expansion.

 

[cheezy321]

Nimby!!!

 

[Sluggo]

Nimby!!!

+1

 

[Capt Caveman]

As you mentioned in your OP, attend any city hearings(city council, planning board, etc) and get your neighbors involved also. You probably won't be able to stop it but you may be able to get the business to make compromises to appease the you and your neighbors.

 

[Markbnj]

They had to get permits and whatnot from the local authorities, so probably the expansion is bringing in some jobs and tax base that the government thinks is needed. With the overall reduction in revenues from property taxes most municipal governments are scrambling to close big budget gaps, so any kind of business expansion would sound mighty attractive.

You need to find out what the process is in your town, and whether it was followed, including any public notices, meetings, etc. Probably it was. You should also find out how that property was zoned and whether the zoning was changed to accommodate the new owner. That sometimes happens. One of the things that a home buyer needs to pay attention to is how adjacent/nearby property is zoned.

In some states a seller has an obligation to furnish a buyer with a negative impact statement concerning any planned changes in the immediate area that could impact the value of the property, so if this was in the works prior to your purchase and wasn't disclosed to you there may be some recourse for you in that direction.

 

[Capt Caveman]

Also, if they need any special permitting, they'll need to go to a hearing to get permission from the planning board. You'll have an opportunity to talk and raise your concerns.

We had a local developer that wanted to build three townhouses but due to setback laws he needed a special permit, all of the neighbors went to the hearing and it caused the planning board to tell the developer to come up with different plans for only two townhouses which he refused to do and he never got the permit. He ended filing for bankruptcy and the land is now a small field.

 

[Red Squirrel]

Is this land owned by anyone or is it vacant and they plan to buy it? Get together with your neighbors to just buy it before this company does.

 

[D1gger]

You may be able to lobby your local government into ensuring that they provide at least some level of screening between their industrial property and the adjoining residential property. Perhaps a combination of sound barrier fencing and tall hedges.

 

[rcpratt]

Look into your state environmental agency and see what kind of permits they will need to pursue. There's always public input chances there.

 

[Phoenix86]

Chances are you're fucked.

NIMBY.

You can possibly fight it and find some hill to stand on like an environmental issue or perhaps a historical one. If you aren't aware of one of these issues already and go digging for it, you're that guy.

I understand your potential losses, it tough, but what is the reasonable alternative? Business has to build somewhere.

How's your city doing financially?

 

[Vdubchaos]

Could be worse, LOT worse....like Natural Gas mining company for example.

 

[vshah]

so you'll save on property taxes

 

[techs]

I have read of the business strategy where companies are looking for areas that are multi use zoned but are primarily residential. They can then take advantage of underutilized roads, sewers, etc.

 

[child of wonder]

Chances are you're fucked.

NIMBY.

You can possibly fight it and find some hill to stand on like an environmental issue or perhaps a historical one. If you aren't aware of one of these issues already and go digging for it, you're that guy.

I understand your potential losses, it tough, but what is the reasonable alternative? Business has to build somewhere.

How's your city doing financially?

I'm OK with the business expanding where they are, I'm just not OK with them chopping down all those trees that would provide visual and auditory cover. I see no reason why the only method for expansion is a giant middle finger to nearby homeowners.

City is doing OK, but I'm sure someone's palms got greased to allow the expansion to go through. I'm also disappointed the city government made no effort to inform us nearby homeowners and we just had to happen to come across a story about it online.

 

[rh71]

Commercial is bad enough but industrial. Nasty sight. Will suck a hard one.

 

[Svnla]

A friend of mine had similar incident. His house was next to a big empty lot and it was zoned for residence housing.

Fast forward a few years, it was changed to mixed usage so a brand new Dollar General store was born. He and the neighbors went down to the city council but the city was needing tax money so bad, therefore, tough luck for him/them.

Story of the day: do not get a house next to any kind of empty space unless you want to buy that lot too.

 

[OutHouse]

Realtors have estimated our property values could drop 10-20% because of the increased noise and traffic from this new expansion.

and how do they know? honestly realtors are not that smart and i will be really surprised if your house value drops any at all.

 

[Phoenix86]

I'm OK with the business expanding where they are, I'm just not OK with them chopping down all those trees that would provide visual and auditory cover. I see no reason why the only method for expansion is a giant middle finger to nearby homeowners.

City is doing OK, but I'm sure someone's palms got greased to allow the expansion to go through. I'm also disappointed the city government made no effort to inform us nearby homeowners and we just had to happen to come across a story about it online.

If the community wanted to preserve the view they had options. It could have lobbied to convert it to a park, or purchase the land under a HoA.

I'm sure there were meeting at city hall regarding this. This is all public information, the schedule, minutes and archive. It could even be online. The city shouldn't advertise it's business except in rare cases (costs), but it is available.

 

[JeffreyLebowski]

and how do they know? honestly realtors are not that smart and i will be really surprised if your house value drops any at all.

Wouldn't put it past the realtors to tell people their houses are going to loose value so they can try and sell the house for you to the people that will be moving there becaues of the new business.
Just because it's going to be an industrial building, doesn't immediately mean it will be an eyesore. There are some very nice looking industrial buildings.

The company building new new industrial complex will probably put up a wall or something to block the view and cut down on any noise.

But as others stated, NIMBY
We all want people to have jobs, and to have industry make a come back in the US, but no one wants it near them.

 

[OverVolt]

JOBS!? NOT IN MY NEIGHBORHOOD!!!

I'm sure your area will do just fantastic as a large worthless suburb full of houses and gas stations.

I always found the docks, steel mill, and food & cup factories around here very annoying, a total eyesore on my way to Starbucks to use my iPad. They should probably be moved out of the area and the city can just borrow money to make up the difference.

Would you rather home values fall 10-20% or fall to $500 dolla like in Detroit?

 

[OverVolt]

Wouldn't put it past the realtors to tell people their houses are going to loose value so they can try and sell the house for you to the people that will be moving there becaues of the new business.

Winner!!!

 

[Sluggo]

Wouldn't put it past the realtors to tell people their houses are going to loose value so they can try and sell the house for you to the people that will be moving there becaues of the new business.

SELL, SELL, SELL!

Oh, everyone is selling?

BUY, BUY, BUY!

 

[child of wonder]

JOBS!? NOT IN MY NEIGHBORHOOD!!!

I'm sure your area will do just fantastic as a large worthless suburb full of houses and gas stations.

I always found the docks, steel mill, and food & cup factories around here very annoying, a total eyesore on my way to Starbucks to use my iPad. They should probably be moved out of the area and the city can just borrow money to make up the difference.

Would you rather home values fall 10-20% or fall to $500 dolla like in Detroit?

When the fuck did I say I don't want them to expand where they are?

As I said, I'm happy a local business is growing and that my community will benefit from the new jobs and tax revenue. However, I'd like it if that growth could be mindful of the homes that are nearby. A simple fence to contain the noise would be great.

Some of you act like I'm being some haughty touty housewife who hears of a windmill being built 2 miles away and complains because she thinks it's an eyesore. All I want is a local industrial expansion only 1,000 feet from my home to build a wall to help contain the noise. That's it.

If they don't do anything and the noise levels rise drastically in our neighborhood it's not going to be a pleasant place to live anymore.