Shanghai’s current urban regeneration has incurred the rapid disappearance of low-rise ‘longtang’ neighborhoods—the city’s most widespread residential space from the late nineteenth century to the end of the last century, while the architecture of ‘longtang’ is rediscovered as the city’s cultural heritage from the colonial period. This nostalgia for the colonial past does not recall the fact that ‘longtang’ spaces were also where the ideas of Chinese revolution were first promulgated and the Chinese Communist Party (CCP) was founded. This article examines the history of the site of the CCP First Congress and the latest commercial development Xintiandi next to that site, highlighting the reinventions of ‘longtang’ architecture in the makings of the revolution monument and the trendy leisure outlet. While these reinventions of historical spaces show a continuity between the Maoist revolution and the contemporary (local government’s) urban rebuilding and expansion program, the production and consumption of urban space, the article argues, has replaced revolution as the main driving force of social change.