Your lease would be required to be honored by the new owner. When your lease is up they have every right to draw up whatever terms they want for a new lease, or simply not extend a new lease to you if they do not wish to do so.... more
A little more information would be helpful in answering this questions. Like, would the HOA fees go down or away completely with the park being removed? .17 miles and .30 miles is still a good distance where you could be many blocks away from the highway. Is it close enough to create noise? How close will an access point be to the new highway, and does that give your home quicker access to the highway? Being able to see it on a map would allow for a more thorough answer.
However, based on what information you have given, I would say that it would have an impact on your homes value. How much of an impact (up or down) would depend on the above questions. The highway could possibly make your home more attractive to some buyers that are looking for quick highway access for commute times.... more
I work as an Appraiser and Realtor in this market area everyday and study these concerns over and over. Power lines, I-15, and trains WILL effect this homes value and resell. Location is everything. If it's just the home you like, find a replacement in a location that is not affected by these elements and see how much money you would be saving. I am always open for questions. Call anytime.