urban renewal |
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Definition
The process where an urban neighborhood or area is improved and rehabilitated. The renewal process can include demolishing old or run-down buildings, constructing new, up-to-date housing, or adding in features like a theater or stadium. Urban renewal is usually undergone for the purposes of persuading wealthier individuals to come live in that area. Urban renewal is often part of the gentrification process.
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urban renewal is in the Economics, Politics, & Society and Real Estate & Buildings subjects.
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http://www.businessdictionary.com/definition/urban-renewal.html