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
Timber in an original form, such as a pole. ...
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Estimated value of property after a specified time period. ...
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mortgage being reduced through periodic principal and interest payments. ...
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Structure not directly belonging to a property but considered a part of it through the use of an easement of common consent. ...
See historic structure. ...
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