There are many problems in the current development of urban underground space such as low development intensity and inadequate use of unique environmental advantages. Accordingly, an innovative conceptual design for underground space development and utilization based on the concept of movable building structures is proposed. The design is oriented to develop and utilize deep underground spaces and enables the building to be transferred freely between the ground and underground spaces, thus maximizing its usage. It also realizes the multicoupled ground and underground spaces, which can be similarly employed in complex topography. The conversion process between the ground and underground spaces is established, and the key points of the design employed in locations such as hospitals, banks, and scenic spots are analyzed. Considering some other special application scenarios, a corresponding optimization design scheme is provided to further expand the application scope. Finally, a simple example is introduced to discuss the technical problems encountered in constructing and operating the design at this stage, such as water and soil pressure. Additionally, the technical requirements needed to realize the design in the future are briefly analyzed.