Answer: redevelop

AnswerCrossword Clue
REDEVELOPConvert to condos, say
REDEVELOPImprove, as a downtown area
REDEVELOPRegenerate.
REDEVELOPGo from blighted to gentrified, say
REDEVELOPGo from blighted to gentrified
redevelopto develop again
redevelopErect new buildings in (an urban area), typically after demolishing the existing buildings
redevelopDevelop (something) again or differently