remodel
verb [ T ]
uk/ˌriːˈmɒdəl/ usUK -ll- | US -l- PROPERTY
to change the design and appearance of a building in order to make it more modern and attractive:
The warehouse is being cleaned and will be remodeled into 20 lofts.
MANAGEMENT, WORKPLACE
to change the way a business or organization works:
A new management team was brought in to remodel the ailing bank.