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.