Whether you are concerned about housing shortages or an overabundance of vacant buildings in your neighborhood, redevelopment efforts may be a solution. Consider these five benefits that it can bring to communities.
1. Update Run Down Buildings
Why settle for having abandoned or run-down buildings scattered throughout your community? Redevelopment projects like those undertaken by Los Angeles native Steven Taylor can transform outdated structures into attractive residences and mixed-use spaces.
2. Bring New Residents to the Area
Affordable housing is a major issue around the country. Without adequate housing stocks, it can be difficult for some cities and towns to attract new residents. That means no new talent coming in, which can quickly sap the life of an otherwise thriving community. Apartment redevelopment lets your town maintain its character and history while providing enough housing for newcomers.
3. Create Walkable and Livable Communities
For people who are ready to give up their mortgage and neighborhood watch community in favor of a more pedestrian-friendly environment and a landlord, redevelopment can offer plenty of options. For example, you might find apartments carved into the middle of a thriving arts district that allows an opportunity for social engagement and stimulation within a …