We're talking about the same building right?
It's pretty dull and not worth preservation imo. The history is neat, but that's about it. Not to mention it's just another unused block with roll-up doors. Waste of space as it is, and even if it was "renovated" it's nothing like many other gems around, would have to be left as a facade to something else, which really doesn't match with the vibe.
If anything, I expect there might be a few NIMBY from the neighboring condo that may try to bring up preservation in a last-ditch effort to save their views.