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high income residents I think is generally a net benefit, will come with all sorts of downstream benefits like nicer restaurants and stores, better schools, etc
Although I may be thinking more in the context of high density urban areas with a mixed economy like in LA. Not sure if your context would match this
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Ehh it depends the community I live in has been gentrified already. Yet the city struggles with basic parking enforcement and other maintenance items that people tend to ignore like putting covers on water pipe valves.
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The city has neglected my neighborhood for decades. Anything that was undesirable for the city was put around us. Thus more industrial going up.
Residential would make things really really crowded here.
Without doxxing my location the the price range of these units will be quite high. New townhomes normally start at like $600k to $800k so I would assume these would be middle to upper middle income levels with a few units having price controls slapped on them. (county law)