Implications of development on rentals and house values

[Jacob Jenkot]

Good morning,

I own an owner occupied duplex a block from Denver, in Aurora, CO. Two blocks from me are a few lots where they plan on building 51 single family, attached homes. 

The area I am in is lower income but in the process of gentrifying. My assumption is this development will be good for the property value and rent prices in the neighborhood. I am however on my first property and don’t know if this assumption is correct. Thoughts?