the conversion of old factories for new uses retooling, urban renewal, or urban pioneering? urban renewal?

Answer 1

http://www.dubinresidential.com/site/epage/19973_482.htm

I lean toward urban pioneering, although I'm not clear on the difference between it and urban renewal.

http://en.wikipedia.org/wiki/Urban_renewal

Answer 2

The conversion may be the urban renewal while the people who live in these buildings may constitute urban pioneering.