comments needed: Condo blight?

my husband and i have been looking to purchase a Home since oct. 04.
this will be our first purchase and we are overwhelmed at what you get for prices paid, especially in our neck of the woods which feels like it's in the middle of nowhere.

our goals are to live in a Community where we can bike or walk to work, where our neighbors care for their environment and property values, and where we feel like we're not adding to housing sprawl. ideally we'd like to live in a city neighborhood, but that isn't an option in this area.

so we found this condo that we're hemmming-and-hawing over... it's the only thing we've found that has all the items on our must list: community setting, outside/garden area, something that won't effect my allergies (mold/mildew in our current house basement is overwhelming), location close to work, clean, fireplace, stove vent (if you've ever lived with one that vents outside, you'll know why this is important), garage, energy efficient (this builder has won awards), bright sunlight. The three things that we debate about on this condo are it's location (close ot I-91) with road noise, esp. in the summer, and the constant construction that's going on as they build the remaining units (for another year or two). we need to be in a place by this summer, or it won't make sense for us to buy after that with our timeframe for the area.

what do you think? should we just buy it? from what we've seen so far, there isn't much else out there... and we've looked at about 40 properties.
comments welcome.