Wendy Zhang/ Shanghai Daily news

A club project on Hengshan Road was listed at the Shanghai United Assets and Equity Exchange yesterday as part of a move by the city to improve the appearance of the Hengshan Road - Fuxing Road historic area which is under municipal protection.
The club project at the center of Hengshan Road has been suspended for many years, leaving a large vacant area that does not fit in with the exquisite historic and cultural style of the whole Hengshan Road.
Stock options for the project will be transferred as a whole, and investors with veteran experience in the protection of historic architecture and advanced designing ideologies are expected to participate in the bidding, said an official with the Shanghai Xuhui District government. The height of the new buildings will be restricted to between 12 and 18 meters, he added.
Since Shanghai placed 12 historic areas under municipal protection in 2003, 398 historical buildings have been examined and approved city-wide in three different groups. In each case, local regulations ensuring the protection of the historic sites were formulated and executed.