Meaning of redevelopment company

redevel'opment com"pany

Pronunciation: [key]
  1. a private corporation or a public agency that stimulates the improvement of land, as through a building project subject to certain designs and controls, by financing, selling, or leasing such real estate to interested buyers or lessees.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.