"Viability" is a tricky thing. The archives proposal was "viable" because it had users identified and it addressed the Federal security concerns. But the users are religious organizations (mostly Catholic) and archives don't generate any revenue so the very costly renovation will have to be funded somehow.
I don't think the Feds can contribute any money at all toward religious institutions, so that leaves private fundraising by the Archdiocese and others, and this is probably the lowest thing on their priority list. There are certainly big-name Catholic donors out there who would love to put their name in big letters on State St, but this renovation will have a pricetag in the 9 figures.
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la forme d'une ville change plus vite, hélas! que le coeur d'un mortel...
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