I agree and the fact that its a small one bed makes it even worse...and doesnt' that development have a hefty management fee too? Personally I would move out further for more space... keep your second bedroom if you can...
I lived in a small one bedroom with boyfriend for awhile...would never do it again... we had one and a half wardrobe between us, no room really for a chestofdrawers for clothes and a tiny kitchen off a awkwardly shaped living room which held a desk with his computer, a dining table a couch and a tv...and nothing else I can assure you would fit!
And I agree, most people would stretch themselves for a two bedroom instead, you might find it hard to sell later, especially if a number of two bedroom apts are on the market with yours!