redevelop

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redevelop

To rebuild after substantial demolition of the old structure.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
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CHESHIRE based Hollins Murray Group has invested more than pounds 24m in its retail portfolio with the purchase and proposed redevelopment of three shopping centres and retail parks including one in North East Wales.
By its completion in 2006, it is expected to have created 93,000 new jobs and economic benefits estimated at [yen] 1.6 trillion, part of [yen] 10 trillion in effects from redevelopment zones in Marunouchi, Roppongi, Shinagawa and elsewhere in the capital.
Located directly across the street from Rahway I on Main Street, Rahway II includes a total of 12 buildings slated for redevelopment. So far, Dornoch has acquired three buildings and has reached agreements with the remaining owners to purchase the balance of properties.
The Arker Companies and Related Capital will act as co-developers on the revitalization, while Related Capital and its affiliate, PW Funding Inc., provided the debt and equity financing for the redevelopment. The deal also comes on the heels of New York City Mayor Michael Bloomberg's creation.
Higgins, Chairman of the Redevelopment Agency of Harrison, stated, "This collaboration with Newark represents a milestone in our future.
Reckson will immediately commence the redevelopment of this property and anticipates completing the project within 12 months for a total investment of approximately $17.5 million.
Talisman Companies, based in Coral Gables, has made shopping center redevelopment a specialty over the course of its 26-year history, with projects totaling more than seven million square feet nationwide.