W: (n) gentrification [Related to: gentrify] (the restoration of run-down urban areas by the middle class (resulting in the displacement of low-income residents))
S: (v) regenerate, renew (reestablish on a new, usually improved, basis or make new or like new) "We renewed our friendship after a hiatus of twenty years"; "They renewed their membership"
S: (v) replace (substitute a person or thing for (another that is broken or inefficient or lost or no longer working or yielding what is expected)) "He replaced the old razor blade"; "We need to replace the secretary that left a month ago"; "the insurance will replace the lost income"; "This antique vase can never be replaced"
S: (v) refurbish, renovate, freshen up (make brighter and prettier) "we refurbished the guest wing"; "My wife wants us to renovate"
S: (v) revamp (to patch up or renovate; repair or restore) "They revamped their old house before selling it"
S: (v) overhaul, modernize, modernise (make repairs, renovations, revisions or adjustments to) "You should overhaul your car engine"; "overhaul the health care system"
S: (v) restore, reconstruct (return to its original or usable and functioning condition) "restore the forest to its original pristine condition"