Are there regulations on building homes at the end of a runway? I live next to a golf course (Butter Valley Golf Port) in Bally PA that has a paved single engine air strip that runs through a portion of the course.  Off the end of the runway (in one direction) perpendicular to the end of the runway is a single lane public road that runs in both directions.  I live on this road down the street from this same end of the runway. Currently on the opposite side of the road at this end of the runway is 80 acres of farmland.  A developer has submitted plans to build 236 condos on this 80 acres directly across the street from the end of the runway.  Are their regulations about building homes on the landing/take off flight path of a registered runway?  Where could I find these regulations?
The FAA has regulations on the maximum height of obstacles around a runway (page 22):


  The runway Obstacle free zone (OFZ) is a defined volume of airspace centered above the runway airspace above a surface whose elevation at any point is the same as the elevation of the nearest point on the runway centerline. The runway OFZ extends 200 feet (60 m) beyond each end of the runway.


... 


  The inner-approach OFZ is a defined volume of airspace centered on the approach area. ... Its width is the same as the runway OFZ and rises at a slope of 50 (horizontal) to 1 (vertical) from its beginning.