Urban Renewal
Definition of "Urban renewal"
Older property is bought usually by a governmental agency to be modernized and improved. In many cases, the deteriorating property is torn down and a new structure built. An example is public housing designed to redevelop a slum neighborhood. Some private foundations may also engage in community development. Urban renewal projects are often directed at a particular depressed area in the city. development might also include sports arenas and parks to make the area more attractive.
Popular Real Estate Terms
(1) Supporting the joists of a floor with small pieces of wood. (2) Providing temporary financing such as a short-term loan, to a real estate developer before long-term financing can be ...
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One to whom a gift or bequest is made. ...
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