Meaning of the word redevelopment in English

What does redevelopment mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

redevelopment

US /ˌriː.dɪˈvel.əp.mənt/
UK /ˌriː.dɪˈvel.əp.mənt/

Noun

the process of changing an area of land or a building so that it can be used in a different way or for a new purpose

Example:
The city council approved the redevelopment plan for the old industrial site.
The area is undergoing significant redevelopment, with new apartments and shops being built.