What part of speech is redevelops?

Redevelops can be categorized as a verb.

Parts of speech

1. redevelops is a verb, present, 3rd person singular of redevelop (infinitive).

Verb
redevelop - change the plans for the use of (land)
redevelop - formulate or develop again, of an improved theory or hypothesis
redevelop - develop for a second time, in order to improve the contrast, colour, etc., of a negative or print