redevelopment

[ ree-di-vel-uh p-muh nt ]

/ ˌri dɪˈvɛl əp mənt /

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

The second project—for a redevelopment property in the Shaw neighborhood—raised $250,000 in a week among just 14 investors.

Fundrise Crowdsources Real Estate Developments in Washington, D.C. |Miranda Green |June 27, 2013 |DAILY BEAST
The Redevelopment Authority owns 1,500 lots, most of which are for sale.

Philadelphia Wants its Eyesore Back |Megan McArdle |September 20, 2012 |DAILY BEAST
Fortunately, saner heads prevailed, and the apathetic pace of Manhattan redevelopment would have prevented it in any case.

Ground Zero's Politics Are Over |Michael Tomasky |May 5, 2011 |DAILY BEAST
He and two classmates from Hamburg had a grant to study and critique a redevelopment project in Old Cairo.

Mohammed Atta and the Egypt Revolution |Terry McDermott |February 14, 2011 |DAILY BEAST

With plants I do not know whether the redevelopment of rudimentary organs occurs more frequently under culture than under nature.

The Variation of Animals and Plants Under Domestication, Volume II (of 2) |Charles Darwin