What does commercial zoning do to surrounding residential property value?

[Wicket1995]

My husband and I have been informed that a company has petitioned our small rural, town council for re-zoning of land across the street from our home. They are asking that it be re-zoned commercial rather than residential in order to put "office space" on that corner. I have office space in quotes because there were no more specifics than that phrase, which in itself, makes me a bit nervous. We already have a small hospital/clinic across the street. Can anyone provide me with information or websites to peruse on what this re-zoning would do to my residential property value as well as that of my neighbors? Thank you

[cololi]

My husband and I have been informed that a company has petitioned our small rural, town council for re-zoning of land across the street from our home. They are asking that it be re-zoned commercial rather than residential in order to put "office space" on that corner. I have office space in quotes because there were no more specifics than that phrase, which in itself, makes me a bit nervous. We already have a small hospital/clinic across the street. Can anyone provide me with information or websites to peruse on what this re-zoning would do to my residential property value as well as that of my neighbors? Thank you

It depends. If it is a good development, it will enhance your property value. If it is bad, it will probably decrease it. Office type uses are generally decent neighbors to residential uses, mainly because they are typically day time uses.

[SGB]

My husband and I have been informed that a company has petitioned our small rural, town council for re-zoning of land across the street from our home. They are asking that it be re-zoned commercial rather than residential in order to put "office space" on that corner. I have office space in quotes because there were no more specifics than that phrase, which in itself, makes me a bit nervous. We already have a small hospital/clinic across the street. Can anyone provide me with information or websites to peruse on what this re-zoning would do to my residential property value as well as that of my neighbors? Thank you

Get the facts, first.

Go to your town hall and look at their rezoning application. Specifically, you want to know what zoning district they are applying to have placed on the property, and what the uses are that are allowed by right or allowed by conditional use approval.

[Vlaude]

I second SGB, it is important to not only see what they are requesting, but maybe more importantly see what it could possibly open up as a use by right in the future. Now and office tomorrow a night club, who knows. But if it is a good development and an appropriate use it should increase the value of your property. However, that increase could be a result of it being of increased value to a commercial use. Sometimes if a developer knows what he/she wants they might be willing to impose some restrictions on themselves to ease the concerns of the neighbors... ie - additional landscaping, deed restrictions, etc... Now keep in mind the P&Z or Council will typically not impose these restriction unless it is a PUD type zoning. So become educated and try to pull the neighborhood together to work with the developer. Hopefully, in the end you will have something that will benefit you as well as the developer and the City! Good Luck!!!