The project includes new construction and the renovation of several historic buildings. The $200-million first phase of a three-phase plan calls for 1 million sf of luxury residential housing, high-end retail shops, a hotel, office space, facilities for cultural attractions, public squares and an underground parking area.

To effect the redevelopment, Rockefeller Group has partnered with Shanghai New Huangpu Group, a quasi-governmental agency in Shanghai that controls the property, and Sinolink Worldwide Holdings Ltd., a Hong Kong-listed company with development and investment experience in mainland China.

The Rockefeller Group of New York City is a wholly-owned subsidiary of Mitsubishi Estate Company Ltd. that consists of five subsidiaries: Rockefeller Group Development Corp.; Cushman & Wakefield; Rockefeller Group Technology Solutions; CommonWealth Partners; and Rockefeller Group Business Centers.