Abstract: As existing industrial buildings in cities, these structures bear the imprints of the industrial era and preserve the memories of urban history. They represent an important resource for sustainable utilization in contemporary urban renewal. However, in the context of urban renewal, how to renovate old industrial buildings in city centers—redefining their design and functions—remains a key challenge. The goal is to ensure that these buildings not only align with the neighborhood’s functional positioning and integrate into the city’s overall planning and development but also revitalize the architectural space and produce expected benefits. This is a problem that needs to be faced urgently. The behavioral trajectory and preference of the crowd in the transformed space reflect the actual demands for the industry, which determines the vitality of the architectural space and its economic potential. Therefore, this study investigated functional layout strategies for old industrial buildings, using Luoyang Fengdong Tools Factory as an example. By analyzing the multi-dimensional influencing factors faced by the functional layout strategies for old industrial buildings, on the basis of preliminary design positioning and functional programming concepts, this study employd Pedsim for crowd dynamics simulations to fully explore the spatial value attributes of the factory’s different segments, and then optimize the layout of the functional business forms. Adjusting the layout of high-commercial-value businesses in crowded areas realizes efficient matching of space, crowds, and businesses, and finally proposes functional layout strategies for old industrial factory districts that align with current urban renewal development needs to promote efficient allocation and utilization of resources.