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Are you a little bit nervous about having a comparatively high density appartment block being built close to yours? From a supply perspective I couldnt imagine 1 building would make much difference, so you're safe I'd imagine. How does their advertised prices stack up to the prices that...

I would be tempted to consider hiring a elevated work platform to determine just what exactly the potential views are from your second & third stories & in what directions. You don't want to build something only to find out that your windows / balconies aren't really lining up with your views...