Why is redevelopment important?
Redevelopment is one of the most effective ways to breathe new life into deteriorated areas plagued by social, physical, environmental, or economic conditions which act as barriers to new investment by private enterprise. Through redevelopment, a project area receives focused attention and financial investment to reverse deteriorating trends, create jobs, revitalize the business climate, upgrade public facilities, rehabilitate and add to the housing stock, and gain active participation and investment in the community by citizens. Redevelopment helps new housing and businesses to locate within already developed areas. It reduces crime and long vehicle commutes, promotes affordable housing, and preserves the environment.
