Here is the basic design concept expressed as a site section:
What it might look like, basing the urban design on New Urbanist principles. The two old landmark buildings would be kept, pretty much as is. The housing could be thought out more, but think "Wright Dunbar meets a Chicago neighborhood".
The fun part is the overlook, which could be developed into an appealing landscape architecture feature taking advantage of views over the city:


More discussion explaining the design + graphics, particularly about MVH, Main and Stewart streets at this link.
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