With the continuous improvement of the urbanization level, urban construction and scale expansion, in order to ensure the sustainable development of the urban social economy, promote the rational and effective use of the urban land, improve the urban environment quality and urban facilities, urban areas must carry out the planned transformation. Aiming at Shenzhen, this paper discusses the principles of reconstruction, analyzes existing problems, and puts forward suggestions from the two directions of reconstruction of urban villages and historical buildings. The reconstruction of urban villages mainly follows the principle of the comprehensive renovation. The main problems are high rent, poor environment and high demolition costs. We suggest optimizing the structure of public space, unified government planning and guidance, more professional policies, market-oriented construction, and encouraging rural collective economic organizations to transform themselves. The reconstruction of historical buildings mainly follows the protection planning policies of historic areas. The existing problems include large-scale demolition and construction, lack of features and imperfect commercialization of historic districts. We suggest that the protection of ancient buildings should be strengthened, the architectural styles should be diversified, and other functions should be introduced in addition to the original residential functions.