Industrial Development Impact on Surrounding Rental Market

[Louis Haase]

I have been looking into the South Philadelphia market as the area is expecting the Bellwether District, a megadevelopment of industrial and life-science buildings, to be delivered in phases over the next dacade. The development is expected to bring thousands of permanent jobs and promote sustainability, including eco-friendly features like walking paths and tree plantings. Howerver, I have resrvations about how this will impact the community's living standards as the development will immediately border some neighborhoods and could bring unwanted environmental impacts and noise. I'm curious if anyone has experience with how developments like these affect surrounding communities, particularly in terms of rental investment opportunities. The surrounding neighborhoods (West Passyunk, Girard Estates) currently have pretty strong fundamentals, although weigh towards owner-occupied. Any insights would be appreciate. Thank you!