Effect of housing for people at risk of homelessness on adjacent single family dwelling value

ConscientiousInvestor

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Hi All,

I recently received a notice from BC Housing that 45 new homes will be built two blocks up and one block over from my house. These homes will be to help solve the city homeless situation and include studio apartments with 24 hour a day support staff. Knowing this population, it includes many with addictions problems and a variety of types of people.

As much as I personally support social projects to help people, I am concerned about the effects of this will have on future selling price of my house.

Any thoughts or experiences of the effects of this development?

As an aside note, on the same day, I received notice of a new private multi unit building being put in for the general public to purchase about 2 blocks away. This seems a good sign and part of the general development of the neighbourhood.
 
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