Source : Webster's Revised Unabridged Dictionary (1913)

Redevelop \Re`de*vel"op\, v. t. & i.
   To develop again; specif. (Photog.), to intensify (a
   developed image), as by bleaching with mercuric chloride and
   subsequently subjecting anew to a developing agent. --
   {Re`de*vel"op*er}, n. -- {Re`de*vel"op*ment}, n.

Source : WordNet®

redevelopment
     n : the act of improving by renewing and restoring [syn: {renovation}]