redevelopment
//ˌriːdɪˈvɛləpmənt//
Noun
redevelopmentSingular
redevelopmentsPlural
1
The act or process of developing something again, especially the demolition and rebuilding of an urban area.
The redevelopment of the old factory district will create new housing and parks.
2
An area or property that has been redeveloped.
The new redevelopment near the station includes shops and apartments.