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Community Redevelopment
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Community redevelopment refers to the process of re-designing and re-constructing existing community infrastructure, to support new public and private investment in specific neighborhoods and defined project areas.
Community redevelopment is typically pursued by local municipalities acting as public bodies, or in collaboration with private developers through public-private agreements. Community redevelopment usually proceeds with stated goals and objectives for such hoped-for results as elimination of blight, stabilization of property values, creation of jobs, and/or to bring new multiplier-effect spending into a local economy.
There are also instances where community redevelopment was pursued to create an asset of strategic value to a community or region. An example that has been popular over the years, is the incentivization provided for the construction of a convention hotel for a community seeking to bring meetings and conventions.
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Stonecreek Partners Resource pages are provided freely and without limitation for personal, private, non-commercial use, and may be linked to as a source page. All resource page information is based on 30 years of practitioner's experience of Stonecreek Partners' principals, in the retail, entertainment, hotel, residential, and commercial real estate industries.
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