Jim bought a foreclosed house in a rundown part of town. the price was a bargain. the place needed a great deal of fixing up, but it was located right smack in the middle of town. others like him were also moving into the area and fixing up old houses. jim was taking part in
a. building a suburb.
b. gentrification.
c. an edge city.
d. development of a megaregion.

B) Gentrification

Explanation:

Gentrification is defined as the process through which refining,modification and renovation of house and business is done to give it a furnished look .It is commonly followed standard in low progressive areas. It impacts the middle-class people to displace from poor residential areas.

According to the question,Jim is the part of gentrification in which he is repairing his place as it is situation in middle of the town .Other people are also influenced to move into the area to buy houses.

Other options are incorrect because constructing suburb, mega-region or edge city are not the way of renovating and modifying the condition or the house or property to follow middle class standards.Thus, the correct option is option(B).