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
Agreement between the lessee and lessor specifying the lessee's rights to use the leased property for a given time at a specified rental payment. As rental payments are made, rent expense ...
Financial interest a developer has in a development. The interest may be a direct investment or a percentage interest in the overall profit. ...
Roof having four triangular sides forming a point at the top of a pyramid. A pyramid roof is primarily used for steeples on top of churches or certain public buildings. ...
Expected market value of property if sold today. ...
Limited partnership in which limited partners rely on the general partner to choose specific properties after the funds are available. ...
A map that shows land elevations. ...
Schedule which is part of Form 1040 showing income or loss from real estate transactions including net rental income (rental revenue less rental expenses). ...
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The amount of money a developer must directly invest in order to obtain a development loan. It pays for the initial development cost including costs for items such as architectural plans, ...
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