redevelop

verb
  1. 1

    To develop again or differently.

    โ€œto redevelop an unsuccessful product for relaunchโ€

  2. 2

    To intensify by a second process.

  3. 3

    To convert a neighbourhood by demolishing old buildings and building new ones, or by renovating existing ones.

Source: https://en.wiktionary.org/wiki/redevelop