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“Urban renewal is not a goal, it is a tool.” J. Q. Wilson mentioned it by his book named Urban Renewal, 1996. Since 2007, Government deploy renewal works energetically by the means of additional building bulk and tax reduce to achieve the fallowing goal：promote a well-planned urban land redevelopment, revitalize urban functions, improve urban living environments, and to increase public interest.
The Joint Construction Agreement Method And The Rights Transformation Method are two ways of renewal implementation, the systems of The Rights Transformation Method has be established formally after The Regulations of Right Transfer of Urban Renewal be legislated in 1999 be concerned, its included majority election、raising the willingness of private enterprise to participate in the renewal business、solving the vertical-distribution issue in the process of urban renewal、defining clearly the participation rules, not only including the land owners and legal building owners, but also the ownership's of other legal rights and squatters occupying the land owned by others, etcetera.
This paper steps into implementer’s shoes to discuss the issues related to its system and operation and analyze its benefits of the two renewal implementations. First of all, we describe the basic theory and concept of urban renewal, than probe into the system, core problems, the difference between these two ways to implement urban renewal, and the effect of implementer. This study takes an existing case of urban renewal in Tatong Disrtict in Taipei City as an example, collects the data stated in Rights Transformation Project Instruction, the actual construction cost, all of expense items, then proceeds the investment analysis. It provides some reference while domestic construction companies making a strategic decision related to urban renewal.
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