Strategic Neighborhood Redevelopment: Part 3 – Building Blocks for an Effective Neighborhood Strategy
By Ian Colgan | Redevelopment & Revitalization | Aug 23rd
This article is Part 3 of a four part series titled “Strategic Neighborhood Redevelopment.” This series provides the considerations involved in formulating a meaningful neighborhood redevelopment strategy. From Development Concepts Inc.’s 19 years of redevelopment experience, we’ll explain what in involved in establishing redevelopment strategies that produce sustainable private investment.
You can read Part 1 here and Part 2 here.
Five key components are required for a successful redevelopment strategy
There are no easy answers to address the issues of neighborhood distress. A carefully crafted strategy, established with community stakeholders and public and private sector leadership, can make a difference. What will work on a larger scale, providing sustainable results, is likely to involve several critical components. The following components are essential building blocks to an effective and comprehensive redevelopment strategy.