How much will the redevelopment of Kinnear Street impact surrounding properties in Footscray?

Lots of reasonably priced apartments going up for sales in this area but I can't help but wonder is it because people are keen to get out? Will the development of Kinnear street gentrify the area or drive costs out?
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As a whole Melbourne has a oversupply of apartments not just Footscray, border closures to overseas students and migrants has resulted in these adjusted prices until demand eventually picks up again.
The development of the Kinnears Ropeworks Factory is definitely another step into gentrifying Footscray this wasted industrial 3 hectare site will contain a shopping and eat street precinct as well as cafes and community spaces, this gentrification process will attract an influx of young professionals on high incomes and push up real estate prices as seen in neighbouring Carlton and Fitzroy.
Footscray is one of 6 priority pricincts in Melbourne where the government and local council are investing in local infrastructure and beautification programs turning it into a 20 minute neighbourhood.
Footscray is also set to have the largest educational precinct in Australia called the Footscray Learning precinct and only 300metres from the Ropeworks Factory the new state of the art Footscray Hospital along with integrated work spaces for Victoria University will further shed Footscray from a former ugly duckling industrial hub into a educational and active inner city oasis.

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Rentals in Footscray, VIC 3011