Redevelop (verb)

1. To develop or build on land or property again, often after it has been abandoned or neglected.
2. To improve or renovate an existing building or area.

Origin:

The word "redevelop" is a combination of the prefix "re-" meaning again and "develop" meaning to bring something to a more advanced or developed state.

Examples:

1. The city council voted to redevelop the old industrial area into a modern residential district.
2. The company decided to redevelop the abandoned factory into a modern office complex.
3. The city's plan to redevelop the downtown area will bring new life to the city center.
4. The government's decision to redevelop the area will lead to the creation of new jobs.
5. The company's plan to redevelop the site will include building new housing and commercial spaces.