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renovation (n.)

c. 1400, renovacyoun, in theology, "spiritual rebirth wrought by the Holy Spirit," also in a general sense, "rebuilding, reconstruction; a making new after decay, destruction, or impairment," from Old French renovacion (13c.) and directly from Latin renovationem (nominative renovatio) "a renewing, renewal; a rest," noun of action from past-participle stem of renovare "renew, restore," from re- "again" (see re-) + novare "make new," from novus "new" (see new).

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Definitions of renovation from WordNet

renovation (n.)
the act of improving by renewing and restoring;
they are pursuing a general program of renovation to the entire property
Synonyms: redevelopment / overhaul
renovation (n.)
the state of being restored to its former good condition;
the inn was a renovation of a Colonial house
Synonyms: restoration / refurbishment
From wordnet.princeton.edu