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
The appearance definition isn’t as one might expect. The term itself is used in different ways, but they all are connected with perception or how something or someone is seen or ...
Time period that a round of regular recurring construction takes place. There may be boom and bust times in construction activity. ...
Roof design having two different pitches. See also gambrel roof. ...
Insurance affording protection against losses due to damage to or destruction of property or contents therein. Insurance protects assets and any future income thereon from loss, such as a ...
Cash flow before subtracting income taxes. ...
Amount awarded by a government when a person's property is condemned and he must move. ...
Levy charged to use something such as water supplied by the town. ...
Purchase of part of property or property rights when condemnation takes place. The owner must be justly reimbursed. ...
Business organized as a distinct legal entity with ownership evidenced by shares of stock. To form a corporation, "articles of incorporation" must be filed with the state. When approved, ...
Have a question or comment?
We're here to help.