Usually means: Revitalizing areas through construction, renovation.
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We found 20 dictionaries that define the word redevelopment:

General (17 matching dictionaries)
  1. redevelopment: Longman Dictionary of Contemporary English
  2. redevelopment: Merriam-Webster
  3. redevelopment: Oxford Learner's Dictionaries
  4. redevelopment: Collins English Dictionary
  5. redevelopment: Vocabulary.com
  6. Redevelopment, redevelopment: Wordnik
  7. redevelopment: Cambridge Advanced Learner's Dictionary
  8. redevelopment: Wiktionary
  9. redevelopment: Infoplease Dictionary
  10. redevelopment: Dictionary.com
  11. Redevelopment: Wikipedia, the Free Encyclopedia
  12. redevelopment: Rhymezone
  13. redevelopment: FreeDictionary.org
  14. redevelopment: Mnemonic Dictionary
  15. redevelopment: TheFreeDictionary.com

Business (2 matching dictionaries)
  1. redevelopment: Financial dictionary
  2. BusinessDictionary.com (No longer online)

Computing (1 matching dictionary)
  1. redevelopment: Encyclopedia

(Note: See redevelopments as well.)

Definitions from Wiktionary (redevelopment)

noun:  The process of developing something anew.
noun:  The demolition of old, redundant or unfashionable buildings or infrastructure and the construction of new ones on the same site.

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