Big redevelopment blocks away from my first multifamily

[Angel Riera]

Hey Folks, 

Recently bought my first multi in New Haven, CT, I'd say it's a B class property in a rougher C class neighborhood. Apparently I lucked out and three blocks away they're going to start a big development project that includes a ton of retail, office, and residential spaces. The plans includes upwards of 600 apartments and tens of thousands of square feet of office and retail space. Anyone here have any insight on how that might affect the surrounding area, the property value, and generally what to expect when this kind of thing happens near one of your investments ?