The financial crisis may create opportunities for creative industry parks with lower rentals, compared with office and apartment buildings.
"When a commercial company considers moving to a cheaper office, perhaps Highstreet will be a good choice," says Ma.
In spite of difficulties, creative industry parks are still promoted by government bodies and favored by many investors.
"To remodel old factories for use as creative parks is a good investment, due to the lower investment," says Tsui of SVA Yuejie, which began reconstruction in July 2007 and was completed in early 2009.
Creative centers M50
Featuring more than 100 galleries and design studios and artists from many parts of the world. Formerly Shanghai Chun Ming Textile Factory.
Address: 50 Moganshan Rd, Putuo District 1933 Old Millfun
Featuring art galleries, studios, social events and forums. Formerly the Shanghai Industry Bureau Slaughter House
Address: 10 Shajing Rd, Hongkou District Bridge 8
Featuring art studios. Shanghai No. 1 Art Museum is nearby. Formerly the Shanghai Automobile Brake Co.
Address: 8 Jianguo Rd M., Luwan District Tian Zi Fang
Featuring arts and crafts, galleries including Chen Yifei Studio and photographer Deke Er Art Center. Many residents still live in upper stories.
Address: 210 Taikang Rd, Luwan District Fahua 525 Creative Forest
Featuring Buddhist culture and old residential architecture. Formerly a clothing factory and the site of old Fahua Temple.
Address: 525 Fahuazhen Rd, Changning District Red Town
Featuring sculpture, art exhibitions and creative advertising. Shanghai Sculpture Space and Exhibition area is adjacent. Formerly the Shanghai No. 10 Steel Factory.
Address: 570 Huaihai Rd W., Changning District
(Shanghai Daily February 24, 2009)
