It cuts both ways, and the type, design, and scale of the development decide which. Done tastefully, amenities that draw foot traffic and local revenue (a grocery-anchored center, restaurants, walkable retail) tend to add value. New commercial infrastructure often signals a growing area, which usually comes with more jobs and business activity, a positive backdrop for home values. Inglewood, California is a clear example: development around the stadium and arena projects lifted nearby home values sharply. The flip side is development plopped next to homes with no thought to fit. A big-box store that mainly generates traffic and noise is the kind of project cities and residents actively fight, and sentiment toward the same project can vary widely by region. One financing wrinkle can directly affect resale. FHA will not insure a home whose property line sits within 300 feet of a stationary storage tank holding 1,000 gallons or more of flammable or explosive material, and that includes the tanks at a gas station. The trigger is that specific tank-and-distance test, so what matters is the fuel storage and how close it sits. We've seen a deal nearly derailed when an appraiser initially missed a nearby fuel storage tank. A new gas station going in next to a property could knock out FHA eligibility for its future buyers, narrowing your buyer pool even if the amenity itself seems convenient. Proximity to good, well-designed commercial tends to help. Poorly matched or hazard-adjacent development can hurt, sometimes in ways that only show up at financing.