What is the difference between a redevelopment project and a development project?

The difference between a redevelopment project and a development project lies in the purpose of the project and the process of taking land. A development project focuses on creating something new, such as creating a new neighborhood or building a new factory. The goals of a development project are typically led by the private market and private entities. In this process, the land is typically acquired through purchase. On the other hand, a redevelopment project is defined as taking an area that is already in existence and improving it through the construction of new buildings, public works, or other improvements. Redevelopment projects are usually led by public entities and usually require the use of eminent domain law. Through eminent domain law, the government can take private property and use it for the public good, such as updating infrastructure or attracting new businesses. In California, the government must compensate the owner of the property if it is taken in this way. The state must also be able to show that the project is necessary for the community.

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What is the difference between a redevelopment project and a development project?

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