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Date: <br /> FDa <br /> Jim 0 Feb 1998 16:10:32 -0500 <br /> From: Ericson<moundsview@freenet.ms <br /> Subject: Chris Richardson .mn.us> <br /> Re: Commercial <br /> mmercial encroachment <br /> Dear Jim Ericson <br /> i <br /> Any time that an external obsolescence, <br /> even just a large buildinge, noise, traffic <br /> most evident when the hthat blocks sunlight, ' Parking lot <br /> rentals. gh , there is some loss of value tod resider <br /> You areas kin homes are single family aloe residential pro' maybe <br /> developers m g the effect of one�o perhaps lessY are <br /> may perceive about o but the when the Pent <br /> properly values. opportunity public multifamily <br /> ' <br /> ty to create a trend, a neighborhood may <br /> perceive a trend,with <br /> Downward due to adverse ghborhood in transition <br /> economic life the individual neighborhood c with changing <br /> commercial structures, vidual buildings due to the°editions and a ov l shortened remaining <br /> The reality lectures' and this can brie hood ofremov <br /> ti is usually much less dramatic,g with its valuesl and replacement ilinr with <br /> store will be the Peculation that land <br /> McDonalds fought <br /> but in especially where the will increase sharply. <br /> ght forp four Some cases the residents have iS opposition. <br /> 1 <br /> changes fromYears before being convinced that this <br /> their usual s grantedpermissionstrong d andtthe tIno W <br /> changes tetyle, using instead antiquenotoweringild Warner NH <br /> denied twice fighting with the town °f store front the site <br /> • and now headed for court,Hopkinton , no plan involved <br /> In both of these �for the right to Sign' Rite-Aid <br /> cases it was notjust in a town with a build, <br /> impacted and would s the immediate strong presencewhof <br /> impossible to suffer a loss inneighbors but the antique Colonial ho <br /> buildingprove for but theappeal' The case of whole town very <br /> felt it wasohomes. <br /> I tank a good case could the <br /> immediate neighbors, a loss in value would be ve <br /> evidenced in longerghbors, but for those in �'hard if not <br /> in low market t' be made for loss _ <br /> lower time is Imes, smaller of value, much sight of the new co <br /> Now, as to money, but generally Pool ofpotential buyers through ift omarkdidn'ti meal <br /> how much?? there is evidence of lowered offer <br /> What I could and even the offers didn't oma <br /> your community pull out of <br /> ty and certainly would havemy files amounts o well. <br /> and he could cite a few examples <br /> no direct Wight not be what <br /> and if appraisere has keptam les basedappear neighborhoods,iYou should contact a old see in <br /> bean a fide of P on similar <br /> g next s a Paired sales he rrua lOSSlocal <br /> in the r commercialle ofdistrictre might be able toPrice r <br /> range of 5% or and several bloc state what l pro of value <br /> °f hetero <br /> the amount of screening, <br /> but probably � back. You could alUe was be <br /> sound, 10% ut pr y not a whole lot higher. Probabl between <br /> and the presence especially adverse coedit conditions Could blocAdditional variables y eXpe something <br /> so an increase in traffic lights and deaden would include <br /> with the neighborhood aenc wouadvt reallythat were include <br /> hhborhood could comment be noticed. already the there such <br /> Pretty rongly that homes in o These cot sort cot • i being on a busy road <br /> close n, but absent f so hangs that someone familial <br /> Sony I can't be proximity would suffer commercial conditions I feel <br /> have more questionsY more specific, but I hopesome loss. <br /> Regards, this has been some help. Get back to <br /> Chris Richardson <br />