School changing to loft apartments

[Paul Hoeppner]

I'm currently looking at purchasing a SFH which is currently RIGHT NEXT to a public elementary school in a great neighborhood. However, the school district is making some changes, and combining 2 schools into one. This particular school is finishing after this school year, and a developer has already purchased the school. The plan is for them to turn this school into loft apartments. I'm assuming they will be really nice lofts.

Do you think this will have a negative or positive effect on this property value long term? The SFH that I'm looking at is right next to the school, within 30-40 feet.