Apparently the dealbreaker with the Parker building is there is no parking.
Don't see that as being too difficult for a hotel. Especially a downtown/urban one. I have stayed at plenty where there was no parking, just enough of a drive through to drop off luggage and check in then go a few blocks away to a parking garage or have a valet do that. I see people dropping off their car and or just luggage from a cab, in front of the Atlas Life all the time. Not sure where their parking is.
The building could also be used as residential and let people park where they can find paid parking elsewhere downtown or the building work out a deal with parking that already exists. If I were to build residential downtown I wouldn't add parking and for one thing that would keep costs down especially if you did not want a car all the time or could find an inexpensive spot elsewhere. Best thing about that is this is the best way to begin creating more of a lively streetscape, and have retail that can actually make it in an urban setting. Oh and of course it helps transit begin to work well. I bet if you built some units that didn't include the cost of parking so that they were very affordable, they would sell and or be rented out. People in cities are used to walking/biking blocks and blocks even just to get to the local bus/tube station to get where they want to go. Surely they could make it a few blocks to their car if they wanted. That sort of thing would really help out local retailers like me and allow more to follow so that more and more you wouldn't be forced to own a car.
Seems we keep catering to suburbanites (as if we don't have enough for them already) and ignoring urbanites. You will never be able to make a downtown type area that will make Suburbanites completely happy, but if we try to make it perfect for them, we end up ruining the chances of keeping and or attracting people who want good urban living. Accommodate suburbanites/cars sure, but the first priority for a downtown area should be for urbanites and pedestrians.