Which of these best exemplifies "redevelopment"?

The choice that best exemplifies "redevelopment" is the restoration of an old factory into residential lofts. Redevelopment typically involves transforming properties that may be underutilized, obsolete, or deteriorating into new, productive uses that better serve the community's needs. By converting an old factory into residential spaces, this option reflects the revitalization of the area, enhancing both its aesthetic appeal and functionality.

This process often contributes to urban renewal, as it can lead to the preservation of historical structures while simultaneously fulfilling the demand for living spaces in urban settings. The outcomes of such redevelopment projects can include increased property values, improved community engagement, and the regeneration of neighborhoods formerly characterized by decay or neglect.

While the other options involve important aspects of urban planning and land use, they do not specifically capture the essence of redevelopment, which emphasizes the transformation and repurposing of existing structures for new functions.