SFR devalued after new Apartment complex comes up?

[Lynn Gupt]

I just got the notification from the city that there is a new apartment complex that will come up right in front of my house. It will be a brand new construction as it is vacant land right now. We are wondering if the property price for my SFR will go down once the construction is complete as I have never been in this situation before. If so, should I be thinking about get rid of the property right away before the construction starts?