Retail shops in low density residential area?

My wife and I recently purchased a home in CO. Our house is off a small road, and this small road is parallel to a major road, with a field in-between those two roads. We knew that eventually something would go into this field, but the current proposal appears to greatly harm the neighborhood. The field is approximately 150 feet wide and approximately 900 feet long. Nine homes run along my side of the street, and each of these homes have yards that are between 70 and 80 feet wide.

The current proposal adds several retail stores and numerous homes into that small area. The homes have yards that are 54 feet wide, which will be quite different from the homes right across the street. Additionally, a large parking lot will be in this space as well, and the parking lot will be accessed by our little road that our homes are on! To top it off, this parking lot and retail stores are at the exact same corner as where the school bus stop is, which obviously will greatly concern all parents involved. By introducing numerous "low-income" homes, as well as a very large parking lot and at least six retail stores into this space, I am SURE that they will greatly reduce our property values, as well as potentially increase the crime rate in the neighborhood.

We plan on fighting this, but what are our legal rights? We will all lose money on this, and obviously we do not have any desire for retail traffic to be running in our neighborhood (not to mention the possibility that they will be parking on our street), but what options do we have? Any advice/thoughts would be greatly appreciated. Thanks for your time!

[HomeGuru]

Go to City Hall, Governors Office, Mayors Office, all Senators and Representatives, protest as a group, get petitions signed, contact radio, tv and print media, put up a website,
pass out fliers, camp out at the developers office**************..

Understood, but I was more curious about our legal rights in regards to our loss of property value, etc. I'm sure they expect us to not want this, which is why I was hoping that someone could mention any legal rights, laws, past cases, etc., that may be helpful...

[HomeGuru]

Check into the current zoning of the subject property. Normally commercial retail is not allowed in residential zoned areas. Is a vraiance or zoning adjustment needed? Are the roads the propery width to handle additional traffic etc.? If the property is currently zoned commerial retail, then you have no cause of action due to economic loss because of property devaluation. Before you start ranting and raving you must conduct your complete research.