Goodbye to much of 'Old Shanghai,' welcome a new Financial Center.
This morning the Shanghai Daily reported that Shanghai's central shikumen district will be turning into and with the new heavily outweighing the old.
We've already seen much disappear already: the Death of Shanghai Food Street, the Final Days of Dongtai Antique Market. It's only going to continue, and rapidly at that.
According to the report, buildings deemed historic will be preserved, but after that it's a sea of more skyscrapers. The Dongjiadu area (the site of the city's earliest shikumen houses) will be turned into 'Dongjiadu Financial City' - something akin to Lujiazui's financial district.
The core of this area (about 700,000 sqm) will be reserved for residential communities, commercial, cultural and entertainment facilities and a 12,000 sqm park.
Some cultural venues will be built 'as part of the government's plan to build a Central Activities Zone', along with an 'urban planning concept that includes more businesses, culture, entertainment, shopping and tourism'. 
Historic buildings to be prserved include Dongjiadu Cathedral (St. Francis Xaviers Church), the Maritime Merchant Guild. A 'luxurious club' of one of the earliest shipping bosses during the Qing Dynasty will be converted into a memorial museum with a two-story stage and assembly hall.
To better connect the area with the Bund and Xintiandi, Fangbang Road will be extended and redeveloped with 'artificial creeks, gardens and innovative shops'.
Construction of the new financial district is scheduled to be completed by 2020.
Photos by Nicky Almasy. See more photos of the 'Vanishing Old Shanghai'.
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