Revival in arenas since being redeveloped (11)
I believe the answer is:
renaissance
'revival' is the definition.
(renaissance is a kind of revival)
'arenas since being redeveloped' is the wordplay.
'being redeveloped' indicates anagramming the letters.
'arenas'+'since'='arenassince'
'arenassince' is an anagram of 'RENAISSANCE'.
'in' is the link.
(Other definitions for renaissance that I've seen before include "revival starting in Florence" , "Rebirth" , "New birth" , "revival of culture" , "Classically-influenced revival" .)