Costs or benefits of an urban renewal project

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Subject: Costs or benefits of an urban renewal project

            Urbanization is real and it is occurring rapidly over the years to point of no return. Urban renewal projects are therefore very vital in the current world that we are living in as they help to improve the old designed urban systems hence into modernized systems. However, it is important to understand that there are many chances that come along with pressure as well as responsibilities that people have to consider as they all move towards urbanization projects. It is upon us to make the difference as we cannot build cities in the same way that we have done all over the years. Therefore there are costs to be incurred during this urban renewal projects but with proper economic planning, these projects are able to be achieved.

            These urban renewal projects are important as they offer better use of the existing as well as proposed infrastructure. These projects will enhance city productivity and more development into intensive jobs and housing cities that also attract visitors due to their modernization. Despite the fact projects incur some expenditures, it is evident that these renewal projects in terms of urbanization, will clearly deliver an effective target that is able to offer more sustainable development in these urban cities.

            A balance should therefore be struck between all the aspects through adoption of precise, transparent and holistic evaluation mechanisms which meets all the interests of all the stakeholders involved. The involvement of all stakeholders will also aids in the cost benefit analysis that are used promote stakeholders as well as non financial values.

 

 

Yours sincerely,