Urban Renewal is a way to improve land use and the quality of public facilities, with a view to promoting a well-planned redevelopment of urban land and increasing social welfare. Built on the theories of collective action and reciprocity, this study explores the reciprocal relationship between developers and landowners in the hope that the issues revolving around collective action can be resolved during the urban renewal process. The results reveal that the level of trust has a positive effect on the level of reciprocity, which in turn has a positive effect on the level of cooperation. Therefore, this study shows that reciprocity can stimulate cooperation in urban renewal and that the level of reciprocity in the cooperation can be increased when the developers in urban renewal projects expand on their capacity, kindness, and integrity.