If a time machine could take us back a hundred years, we might not recognize what became known as the old Jewish quarter of Budapest. Simple one or two story dwellings stood in place of today`s apartment buildings, with the first synagogues towering above them. Then a wave of renewal followed, many houses were demolished with new houses put in their place, and there were even plans for a huge, impressive boulevard. During the past half a century, this part of Budapest slept the sleep of Sleeping Beauty. Now, however, the area is being modernized, creating a new world with a new atmosphere.