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The fundamental tools of a redevelopment agency include the authority to acquire real property, the power of eminent domain, to develop and sell property without bidding and the authority and responsibility of relocating persons who have interests in the property acquired by the agency.
Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others.
In real estate, a condominium conversion or condo conversion is the process of entitling an income property or other lands currently held under one title to convert from sole ownership of the entire property (which often already is a multi unit property) into individually sold units as condominiums. Such entitlement is generally derived from ...
Land development puts more emphasis on the expected economic development as a result of the process; "land conversion" tries to focus on the general physical and biological aspects of the land use change. "Land improvement" in the economic sense can often lead to land degradation from the ecological perspective. Land development and the change ...
The procedure offers landowners financial incentives or bonuses for the conservation and maintenance of the environmental, heritage or agricultural values of their land. TDR is based on the concept that with land ownership comes the right of use of land, or land development. These land-based development rights can in some jurisdictions be used ...
In a rapidly rising real estate economics housing market, buying off-plan enables investors and homebuyers to buy a property at a lower price than if they wait for the construction of their chosen property to commence or when it eventually is completed. In addition, buying off-plan may be the only way to get a property with a specific location ...
Tax increment financing subsidies, which are used for both publicly subsidized economic development and municipal projects, [2]: 2 have provided the means for cities and counties to gain approval of redevelopment of blighted properties or public projects such as city halls, parks, libraries etc.
Adaptive reuse is defined as the aesthetic process that adapts buildings for new uses while retaining their historic features. Using an adaptive reuse model can prolong a building's life, from cradle-to-grave, by retaining all or most of the building system, including the structure, the shell and even the interior materials. [6]