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

In New Mexico, redevelopment projects and development projects are both actions taken by governments to improve a piece of land. The main difference between the two lies in the purpose and context of the project. A redevelopment project involves taking an existing land or structure and making changes to it in order to make it more beneficial to the community. This could include taking a dilapidated building and renovating it to be a school, or taking vacant land and creating a park. Often, the goal of a redevelopment project is to improve the social, economic or environmental quality of an area. In contrast, a development project involves the construction of new structures on an untouched piece of land. This could include building new homes, businesses or other types of infrastructure in a rural area. The primary purpose of a development project is to improve the local economy and create jobs. Overall, the main difference between a redevelopment project and a development project is the context and purpose of the project. While a redevelopment project is focused on improving an area through existing resources, a development project is focused on creating something new that can benefit the local economy.

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