What can redevelopment do?
Redevelopment activities may include the
rehabilitation/reconstruction of existing structures, the
redesign/replanning of areas with inefficient site layout, the
demolition and clearance of existing structures, the
construction/rehabilitation of affordable housing and the construction
of public facilities including, but not limited to, public buildings,
streets, sidewalks, sewers, storm drains, water systems and street
lights. All of this contributes to general economic revitalization of an
area, making it more attractive for additional investors.
Through redevelopment, a project area receives focused attention and
financial investment to reverse deteriorating trends, create jobs,
revitalize the business climate, rehabilitate and add to the housing
stock, as well as gain active participation and investment by residents
and local business which would not otherwise occur. These revitalization
efforts have positive effects that spill over the project area
boundaries and improve the entire community.
Examples of activities/benefits generated through
redevelopment:
- Commercial mixed-use projects
- New/Rehabilitated affordable and market-rate housing
- New and revitalized schools
- Increased investment in the area
- Living wage job creation
- Transportation facilities
- Sales, hotel and utility tax revenue
- Youth recreation and service centers
- Community beautification
- Renewed civic pride
