redevelopment

[ ree-di-vel-uh p-muh nt ]
/ ˌri dɪˈvɛl əp mənt /

noun

the act or process of redeveloping.
an often publicly financed rebuilding of an urban residential or commercial section in decline.

Origin of redevelopment

First recorded in 1870–75; re- + development
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019

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