Old Town is the original Shanghai before it became the sprawling metropolis of today. In 2006, the government made the neighborhood a protected area to stop the demolition of the historical estates, but the effort was too late for many of the buildings. The area is now a juxtaposed mixture of architecture that spans centuries.
It has the modern conveniences of any Chinese tourist destination: Starbucks, McDonalds, trinket stores, and of course, an entire store dedicated to panda merchandise.
It costs 30RMB to go into the connected Yu Garden and 10RMB to enter the City God Temple. If you have a limited amount of time in Shanghai your time could be better spent elsewhere. However, if you are sticking around for a while it’s a great place to haggle for some souvenirs, just make sure to go on a weekday.