Impact of a large combined commercial &residential development

[David Tecchio]

I would like to buy my first rental SFH in Poughkeepsie, NY near Marist College. The local medical center is building a 550 million dollar new hospital and transitioning into an academic center and is starting a residency program that will bring 200 new doctors into the area. In addition, in conjunction with Marist College, they will have a new School of Medicine that will bring 400 medical students, faculty etc to the area. Sounds great! However, there is a huge development now under way in close proximity to the College that will have 750 apartments, shops, a gym, etc. Is this a sign that my idea is a good one or that I am late to the party and the big guys will decrease my rental income because of us—oh and demand. My SFH would be within .3 miles from this development. Thank you.

[Michele Wax]

There are people who will not want to live and work with the same people. Plus there will be those who are not doctors or staff and they will need housing.  Depending on the rent you are looking for from this house.  If the area is coming up as in the next new place to be there will also be shop owners and employees  of the shop that might not be able or willing to spend so much for the brand new "it" place. I think you should be fine.