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There is an interesting case of how development and repurposing space can be done well. There's a university in Luxembourg which is built in and around a former steelworks, so the blast furnaces and industrial history remains. The history is still there, albeit repurposed, but that's better than totally destroying the past entirely.
Yes, there are isolated cases of reuse of spaces that were once industrial. The "Centro Ciência Viva de Aveiro (Portugal)" is one such case, a partnership with the University of Aveiro.
But, unfortunately, there are few such cases. I am also an advocate of preserving these spaces of industrial archaeology.