When an existing apartment building is too old to remodel or repair, redevelopment is a great option. This process is helpful in revitalizing a community and making the apartment safer for residents. Landlords in Los Angeles, including Steven Taylor, have looked at this process as a boon for landlords and tenants alike. Here is what to expect if redevelopment is happening in your area.
Different Levels of Demolition
Depending on the state of the building or buildings in question, redevelopment could entail anything from tearing a building down to its foundation or removing everything but the underlying frame. The frame is sometimes left erect if it is made of metal, but wood frames are usually taken down. Extensive planning goes into this process to ensure nearby structures and buildings are not damaged. If you are living in an apartment about to be redeveloped by your landlord, then you may need to find a temporary living space.
Bigger and Better
Redevelopment usually involves building a new structure that is larger or taller than the previous one. Sometimes, this means the rooms in the building will the larger, but the number of rooms will be the same. Alternately, the new rooms could be of similar size, but there are more of them. The first option usually means attracting wealthier tenants which can also bring new business to the neighborhood. The second option can mean more people living in the area, which also can positively effect commerce. In either case, property and income taxes receive increased revenue which can positively impact public buildings and parks.
Redevelopment takes time and resources, but it can be worth the effort. The demolition process and rebuilding require significant resources, yet the result can be increased revenue to the surrounding area. A larger and more modern building can attract new businesses and people, revitalizing and area.