Questions and answers
01 What exactly is Urban Renewal?
Urban Renewal, also called urban revitalization, is the comprehensive restoration and remodeling of aging urban sectors. The goal is to elevate quality of life for city residents, reinforce structures against natural disasters and other hazards to meet modern standards, and upgrade public infrastructure. This is achieved either through Pinuy-Binuy, the demolition and reconstruction of new, modern, safer buildings, or Tama 38, which reinforces and expands buildings through the addition of safe rooms, elevators, balconies and other amenities.
02 What are the primary benefits for me as a resident?
An urban revitalization project offers a variety of significant benefits for residents, including seismic reinforcement for earthquake protection, the addition of a standardized security room (Mamad), enhanced quality of life, and a complete renewal of the building’s façade, which all amounts to a substantial increase in your property value.
03 Which redevelopment paths does Terra offer?
We specialize in all major revitalization tracks:
- Pinuy-Binuy: Large-scale neighborhood demolition and reconstruction.
- Tama 38/1: Strengthening and expanding existing structures.
- Tama 38/2: Boutique demolition and reconstruction of single buildings.
04 What is the Pinuy-Binuy process, and how does it work?
Pinuy-Binuy (Demolition and Reconstruction) is a comprehensive process involving several key stages: feasibility assessments, resident signatures, planning and submission for building permits, construction, and final occupancy.
05 How long does such a project take?
The duration varies based on several factors, including the project type; complexity of planning and permits; time required to receive approvals from local committees and planning authorities; and overall scope of construction.
06 Who funds the project?
All project costs—from initial planning and construction to supervision and legal counsel—are fully funded by the developer. Residents are not required to pay anything.
07 What happens to my apartment during construction?
In a Pinuy-Binuy project, we arrange for alternative housing or provide the necessary assistance to find a rental apartment in the same area during the construction period. The cost of rental housing is fully funded by the developer.
08 Does a lawyer represent me in the project?
Yes. We recommend that you appoint an independent lawyer who specializes in the field to represent your interests, and all legal fees are covered by our company. Your attorney will accompany you throughout the entire process to ensure that your rights are protected.
09 What is Terra Real Estate’s responsibility toward the residents?
Our company is responsible for every aspect of the project, from initial planning to delivering the keys to your new home. This responsibility includes construction management and supervision, adherence to schedules, providing alternative housing (for Pinuy-Binuy projects), and funding legal representation chosen by the residents.
10 Are there guarantees protecting the residents?
Absolutely. Terra provides residents with all required guarantees under the Sale Law. These guarantees ensure the completion of the project, fulfillment of financial obligations, and delivery of the new apartments. Additionally, all project funds are backed by recognized insurance companies and bank guarantees.
11 Will the management company for the new building be different?
Yes. Upon completion of the project, a Resident Committee is formed to handle all affairs related to the new building. Usually, a professional external management company is hired to ensure the high-standard maintenance of the structure and public spaces.
12 Can I choose the type of new apartment I receive?
Yes. In most projects, residents may choose from several options for their new apartment based on the size of their existing unit. Generally, residents receive an addition of approximately 12 sqm, in addition to a security room (Mamad), balcony, and parking space. Residents may also choose to upgrade their apartment for an additional cost or request internal modifications, such as moving interior walls, according to an agreed-upon price list.
13 What is the project’s contribution to the environment and community?
Urban revitalization projects contribute significantly to the local community. Beyond improving living standards, they create enhanced green public spaces, help reduce traffic congestion through underground parking, and improve the overall aesthetics and character of the street and neighborhood.
14 How can I get in touch?
We are always happy to provide information and answer questions. Feel free to contact us by phone, email, or via the contact form here on our website.