redevelopment
n. C / Un. the process of changing an area of a city by knocking down old buildings and building new ones. It often happens to make a place more modern or useful.
n. the renovation or replacement of existing buildings and infrastructure in an urban area to improve social or economic conditions. Often involves a change in land use or density.
The old factory site is now undergoing redevelopment.
The city council approved the redevelopment of the waterfront to include new apartments, parks, and a shopping center.
Urban redevelopment projects must balance the need for modern infrastructure with the preservation of historical landmarks that define a neighborhood's unique cultural identity.
Uncountable when referring to the general process; countable when referring to a specific project or instance.