Should our wooded areas be saved or developed?

About a week ago I received a notice that an area  close to my home may be bulldozed to make room for a residential development .
The owner of the property, currently all wooded with lots of wildlife and next to a salmon spawning stream, wants to change the zoning to build houses on small lots.
In our neighbourhood, this will most assuredly become houses turned into mini apartments, often without the owners themselves living on the premises .
Should some developments simply be turned down for the greater good of the neighbourhood and environment?
Do we create more housing at all costs? Your thoughts?

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