Shops to transform city artery
A LONG-TERM project costing up to US$3 billion, will turn a key traffic and commercial artery in Shanghai's western Putuo district into a shopping paradise, according to China Daily Business Weekly.
The proposal is to give a face-lift to 3.5 km of Changshou Road, which runs from Jiangsu Road to the railway station area.
The street would enjoy the same affluence as Nanjing Road and Huaihai Road but especially would attract budget-conscious consumers, said Xu Baizhang, director of the Putuo district's government.
Under the plan, 34 projects involving investment of 200 million yuan (about HK$181 million) each, and eight land-leasing projects are envisioned.
Near Changshou Road Bridge, a 2.79 million sq ft complex will be built to include entertainment facilities, dining places, markets and offices.
The area near the intersection of Changshou and Jiangning Roads is targeted to become a tourism and shopping centre.
Two 24-storey residential blocks will be built at Hengda Square.
The area around the Liaoyuan Theatre will be the site of a big commercial city, still being designed.
The Caojiadu area, near the western end of the road, presently a warren of small shops, will be renovated and small shops merged to form bigger units.
The long-term plan includes widening the street to 148 ft. At present it is about 40 ft at its narrowest.
According to Mr Xu, funds from the district and city government fell far short of those required by the ambitious plan, so investors from out of town and abroad would be a key element in the road's redevelopment.