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The sign atop the building is certainly iconic, but in no way can be described as 'elegant'. I see this as more of an on-the-go eatery than anything in the "elegant" category. Of course, the REAL value of the site is its long-term potential once the economy rebounds. perhaps something in the 6-8 story range, but probably nothing hi-rise.
Let's not forget that to those of us who can remember it, the iconic sign was the ever-recognizable emblem of Roselyn Bakeries, may they rest in peace. No one since has come close.
If Keystone is developing it, let me guess, the city is pitching in half the cost using parking meter money or savings from the cricket field? They shouldn't have any problems getting any necessary zoning or permits.....
Glad the sign stays and hopefully Keystone will find a tenant with a vision for an elegant mid-century modern revision on this site. Googie architecture has largely been demolished or fallen into disrepair in our city, and perhaps a proper renovation / expansion here will bolster the appreciation of this style.
*sigh*...just bring back the "very berry cobbler a la mode"...good times.