Your follow up question regarding development only matters to you in a BMR unit as it drives wages. The market rate units in the complex will want development to happen hoping it will drive the rate of appreciation higher. You will not be able to sell at market, you will sell at whatever percentage of average area income the condo is set for.
To decide which loan to get has tax ramifications and should be discussed with an accountant. Usually a person would look at how long are they staying in the property and how long will it take to see the benefit of the point paydown. If you pay $6,000 in the point and it reduces the payment by $100/month then it would be 5 years before you realized any savings. $1200/year reduction in payment divided into the $6,000 paid equals 5 years.
As I said before look at the what the sale process is, find out if there is a minimum time you have to stay there, compare the price you are getting the space with market rate units. Walk the area at different times of the day to see if you want to live there.