This report analyzes the process of urban revitalization. First it provides a theoretical overview of this issue with some historical perspective and from the point of view of a variety of payers. Than, the report is going through the case study of one of the most controversial revitalization activity in Austin, to observe a successes and failures in policy making of this long and difficult process. Lastly, the report recognizes key lessons to learn for City of Austin from this particular case study mentioned before. Additionally, it shows how the Cityıs future commercial urban revitalization efforts could benefit from it.