There is full compensation for private use eminent domain as well.
Sure, sometimes the best use of a space could be to remove a few homes and then to build something that creates jobs, tax income to the area and a service to the community.
Some people have made fortunes buying property ahead of areas to be revitalized for the purpose of holding out a little for big pay days.
I know a fellow who owns 20+ KFCs and his own chain of restaurants. He said he made his real money buying property that eminent domain would eventually have to buy him out.
He made enough from each of these to build 3 times what he did before.
He claimed it made him a bunch more of his chain and many millions in the bank.