the intentional torching of abandoned or undesirable properties or structures in the hood.
Tom: the crack house looks nasty yo.
Bill: I'll be doin some urban renewal tonight after your mom leaves.
The often difficult process of renewing the urban areas of a city to "renew them". Also the TeRm of rEnewing ones self bY making themselves look good through hard work and much time.
I went through urban renewal this morning before school.