How could a large condo development affect my rehab across the street?
Hi all and Happy Thanksgiving!! I have a simple question: How could a large condominium development affect my single family rehab across the street?
Originally, when I places this house under contract back in March 2014, I offered it as a wholesale to well established real estate developers in Boston since the house is located on 14,000+ sq. Ft of land for a potential 6-8 condo, and no one saw the opportunity. Now a different developer has proposed and hold town meetings on developing a larger development (32 condos) right across from my house in Hyde Park.
Is this good or bad for the value of my project? Thanks in advance for your thoughts.