After several false-starts, plans to re-open the landmark building as a hotel appear to be underway. Jeffrey Holmes of Australian Architecture firm Woods Bagot is the latest figure attached to the project. Developers David Bistricer and Joseph Chetrit of the Chetrit Group purchased the Brooklyn property for $81 million from Watchtower Society in November 2012 but progress subsequently stalled.

Selldorf Architects and Gene Kaufman have both at times been tipped to lead the rennovation, but neither is currently affiliated with the project.  While initial prospects looked grim, the city has recently approved plans to change the building’s certificate of occupancy, allowing for construction to begin with an eye towards a summer re-opening, a year later than expected.