Is a new apartment building going to help or hurt home values?

[Brittany Doyle]

Hey y'all! I'm scoping out the neighborhood for my first deal and am wondering about the impact a new mid-rise apartment building will have on the neighborhood. There's also a new condo development that was just announced as well. 

So here's the scoop: The neighborhood is Reynoldstown in Atlanta. I would call the neighborhood a B/C neighborhood. Its in-town atlanta just nearby some more expensive areas (Inman Park, for example). There is a relatively new shopping district adjacent to the neighborhood with a Target, Bed Bath and Beyond, Barnes and Noble, etc. (I shop there myself, actually.) The new development apartment building are on the main road at the edge of the neighborhood. Same with the future condo building development. My general thought is that the neighborhood is/has been on the up-and-up in recent years as new build SFHs have been popping up a lot and there are a decent number of flippers in the area. Is it safe to say that the apartment complex and condo development are going to help this trend continue upward? 

Thanks!