renovate

3 definitions • 3 examples

to repair and improve something, especially a building:

He renovates old houses and sells them at a profit.

to repair and improve something, esp. a building

to repair and improve a building so that it is in good condition again:

You may need to renovate in stages, doing the most essential work first.

Private companies don't want to renovate existing buildings, as the potential profits are too small.