re ‧ de ‧ vel ‧ op /ˌriːdɪˈveləp/ BrE AmE verb [transitive]
[ Word Family: noun : ↑ developer , ↑ development , ↑ redevelopment ; verb : ↑ develop , ↑ redevelop ; adjective : ↑ developed ≠ ↑ undeveloped , ↑ developing ]
to make an area more modern by putting in new buildings or changing or repairing the old ones:
The old docks are being redeveloped as a business park.