What will happen to property values?

[Qacer]

This is the main web page for a revitalization project:
http://www.templeterrace.com/revitalize/index.htm

Take a look at this map:
http://www.templeterrace.com/r...pdfs/CRAmap_033007.pdf

The brown area (SE Quadrant) is going to be redeveloped into this:
http://www.templeterrace.com/r...SITE%20PLAN%203-07.pdf


What do you think this project will do to the property values of the houses close to it?

I was told that houses near retail areas are hard to sell or will appreciate slower. Is there any truth to this?

 

[RKS]

We have a Super-Walmart (along with a lot of other retailers) that backs up to $million plus homes. With current gas prices, I assume peole would want to be able to walk to retail outlets.

 

[Throckmorton]

That PDF is taking forever to download, but I'm assuming it's an urban area with gridded streets, etc, and not suburban sprawl. Your property value should increase. There is a difference between neighborhood stores or main street shopping, and a Wal Mart in the middle of non-walkable sprawl.