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TeachMeFinance.com - explain redevelopment redevelopment -- the urban process of improving cleared or undeveloped land, including erection of buildings and other facilities by public or private developers, but not including site improvements installed by a local public agency in order to prepare the land for disposition to developers. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.