The entire three-story complex was designed by the British firm Ma Haiyang & Co. and completed in 1941. Prior to 1916, this site served as the private garden of Sofa, a Jewish British national; the garden featured Western-style landscaping, including lawns, a fountain, and a small villa. In 1933, the garden was sold to Zhejiang Industrial Bank, which repurposed the land for staff housing. Due to the instability of the war, construction proceeded intermittently, resulting in a prolonged timeline; most of the buildings were erected after the victory in the War of Resistance against Japan. The upper garden area comprises an apartment-style lane neighborhood, organized into five neat rows of residential units, totaling 74 three-story brick-and-wood houses. The architecture exhibits diverse typologies and lively forms, including detached, terraced, and row-house configurations, with the majority reflecting Spanish-style design.