When the Asian Games came to Guangzhou in 2010, the main hotel selected to house the most senior visiting dignitaries was the Garden Hotel in Jianshe 6 Malu rather than the ritzier options around the modern Zhujiang Xincheng (the new CBD 6km or so to the east). Perhaps one reason is that Jianshe 6 Malu is such an attractive commercial street especially as part of a wider pedestrian network in the area.
The character of the area hasn't changed much over the last couple of decades. Many trendy shops have come and gone and though it's gradually becoming more upmarket, it's at a glacial pace. The character of the street changes throughout the day, with early morning flows to the multiple schools (the closest being Jianshe Liu Malu Primary School, just across from the cache) and many offices around the area, high flows throughout working hours, and then some vendors moving in during the evening and several all-night restaurants.
Update from 19 August 2022: Jianshe Liu Malu is going to become a metro station construction site for 3 years starting any day now. The buildings on the east side of the road across from the cache got a reprieve from demolition by a central government policy against large scale demolition of central urban areas. The hotel at the cache location housed a similar 9-10 storey building as the surrounding area up to 2004 when it was marked for demolition. It took another several years for the demolition to take place and then the construction of the hotel proceeded at snail's pace for more than a decade before it finally opened shortly before Covid hit. The metro station under construction in Jianshe 6 Malu will include an underground passageway connecting 3 different metro lines and one of the metro station exits will be located quite close to the cache location.