my first investment : huge development project in my area

[J Campbell]

heyBP!

Im planning my first Investment and looking for some feedback.

Theres a massive dev project coming to my area and wondering how it will change values of surrounding properties. their  plans are for  approx 10square blocks of luxury shopping amd luxury condo high rises. Not sure what they are spending but its injecting a lot of money into the area. This dev will move some homeless from the area and surely make area  visually attractive and updated.

Currently Theres a few new luxury high rises in the area and a few older high rises that are nice but a few years older and not High end , more middle luxury. I was thinking it may be a good move to invest in one of these slightly older comdos as I can afford it and as they are the cheapest comps in the areas I thinkimg they would benefit from this dev project.

but then other hand theres hundreds of new condos going up so will that weaken the market?

currently the rental market is stron.