Today, the direction of redevelopment is actively developing, which involves the improvement of territories through the reconstruction of abandoned real estate. The return to the effective use of such territories for society and the economy is becoming an increasingly important goal. Therefore, it is so important to attract investors and appropriate measures of state authorities in the field of support for redevelopment projects. However, the redevelopment projects remain very risky on the subject of investing in them investment. The article is devoted to studying the risks of investment projects and identifying ways to reduce them. An example of interested and effective actions of the state to support the investment project Mnevnikovskaya floodplain in Moscow is shown. The study consisted of two stages. The first of them is the calculation of the acceptability of the investment project with the calculation of risks. Calculations using known formulas of discount rate and internal rate of return for a particular project are presented. A comparison of these indicators is given. The second stage shows ways to reduce the risks of entering the redevelopment project through effective measures and methods of action of government agencies. Thus, the identification and accounting of risks in investment projects contributes to the creation of successful redevelopment projects, in which the state, investors and the population are interested. This will accelerate the transformation of our cities, their improvement and improve the quality of life of the population.