As the origin of Shanghai’s urban civilization and a repository of architectural heritage, the Bund has long served as a frontline for historic district conservation and renewal practices. This paper reviews architectural renewal projects in the Bund from 1978 to 2025, tracing a shift from single-point interventions to planning-guided, area-based conservation and renewal. It analyzes the contextual drivers behind this transformation from the perspectives of heritage conservation policy, urban development agendas, and the evolution of architectural thought. Based on a framework for evaluating character continuity—covering spatial configuration, façade composition, and material detailing—the study identifies three typological approaches through case analysis: symbolic pastiche, symbolic reinterpretation, and contextual integration. These modes represent distinct formal strategies and continuity logics. The diversification of architectural renewal not only enriches the morphological fabric of the district, but also reflects a broader shift—from visual narratives that preserve historical imagery through symbolic forms, to experiential practices that reconstruct collective memory through urban fabric, scale, and the spirit of place.