Cat's Row conundrum

After I'd got my work done, I decided to take Molly for a walk along the beach to the harbour. My timing was impeccable. As I stepped out of the gate, the sun disappeared, leaving clingy cold fingers of mist to wrap themselves around my bones.

Near the harbour, I noticed this sign was looking pretty decrepit.

Perhaps soon there'll be a new sign, reading near here was the sign which used to commemorate Cat's Row, which once stood where those new houses are. And when that sign falls apart...

Ah, but what about when they demolish the new houses? Tricky stuff, this commemorating business.