After the city purchased 5.5 acres of land with plans to develop the area into 21 single family homes, neighbors expressed concerns over increased traffic and lower property values. The City Council approved the purchase of the land earlier this month. Residents of the area are worried theyll see increased traffic and lower property values. City Council hopes the development will address the housing shortage in Oshkosh.The proposed subdivision is at 3483 Jackson Street. The 5.5 acres will combine with another 5 acres bought by the city in June.The city hopes to develop the total 10.55-acre plot into 37 single-family homes and a city park.City Council member Joe Stephenson says the homes will be workforce housing, reserved for people who work in Oshkosh and make slightly below to slightly above the average household income. The most recent land purchase will be developed into 21 single family homes, according to the City Council agenda.Residents in the area are concerned the new homes will be less expensive than the average home in the area, and therefore cause property values to lower.We're worried about the property values decreasing for all of us that currently live here, Stephanie Hammerseng, a homeowner in the area, says.Stephenson says property values will not lower because the houses will sell for $250-$350,000, which is similar to previously sold homes in the area.I would say it's not going to devalue your house, it will be a boon to your neighborhood, he says. There'll be quality homes right next to your neighborhood.Hammerseng says she and her neighbors fear the lot sizes will be too small to build a home of equal value to hers.Neighbors are also worried about the rise in traffic in the area. Many residents describe the neighborhood as quiet.We do have a lot of kids that play, they play in the road, we have a lot of people walking dogs and that so it's a lot more traffic that we're looking at as well, she says.Council will have a housing workshop early next year to discuss the plan more in depth. Council member DJ Nichols requested a further meeting be scheduled with the residents to address their concerns of the plan.