This article discusses the problems and potential of degrading industrial areas. The review of the Russian experience of renovation of industrial zones of Moscow is presented. Examples of the renovation of the Golutvinsky manufactory of gas tanks in the Armagh business centre and business quarter Novospasskiy. The group of factors influencing expediency of renovation of industrial territories is revealed. These are constructive, economic, aesthetic, social, historical and environmental factors. The article presents two methods of renovation:A comparative analysis of the two methods of renovation: the use of the existing industrial building and the method of constructing the frame of the existing industrial building.The comparative analysis of these two methods, identified their strengths and weaknesses. Based on the analysis, the method of using the existing building, as it is most suitable for preserving the architectural and historical heritage of the city of Moscow