redevelop
verb [ T ]
PROPERTY uk/ˌriːdɪˈveləp/ usto replace the buildings in an area with new ones:
be redeveloped (as/for/into sth) Several neighborhoods in the western part of the city have been redeveloped.
Former warehouses will be demolished and redeveloped into a $185 million hotel complex.
redevelop land/property/an area Money has been made available from the Economic Development Corporation as part of larger efforts to redevelop the area.
redevelop a site/space Talks are continuing with planners about proposals to redevelop the site for office buildings.