A parking lot may be the quickest and most cost-effective use of the newly cleared downtown lot.
About a half dozen diagonal parking spaces could fit into the space. They could be metered. This would generate a small amount of revenue. Additional parking downtown could lead to more economic activity.
I predict that people will pay for diagonal parking. Parallel parking seems to be becoming somewhat of a lost art. Some states are removing parallel parking from driver's license test. Too many people were failing. This led to more testing expenses.
Yes! A building might be preferable. How long will this take?
Also, what about the newly exposed inner wall? It is now an outer wall. It bears stains of a now-defunct structure.
My suggestion: Leave it just as it is. The markings show history. They show what can happen with this type of construction practice. Future generations could learn.
I predict, however, that aesthetics will win out. I hope that I am wrong with this prediction.