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Redevelopment

ˌriːdɪˈvɛləpm(ə)nt

Redevelopment definitions
noun
redevelopment redevelopments
  1. the action or process of developing something again or differently

    "the redevelopment of the university website"

    • construction of new buildings in an urban area, typically after demolishing the existing buildings

      "the town is undergoing significant redevelopment"