Maybe I’m missing something, but I drive by there just about every day and I couldn’t imagine wanting to live at that location.
Sure, it’s a total mess at the moment with all the construction, but even so I don’t see anything good about it. Right against the highway, wrong side of the river (or 35W) for the trails, no amenities in the area at all.
There are a lot of more desirable places to live, either existing or under construction.
Butler Place reminds me of Penn's Landing in Philadelphia. That area is also cut off from the rest of the city by an Interstate highway and a river. There was never a solution found (even with some decking) and it is a chore to try and get over there.
I'll be sorry to see the water tower go - it is very much a feature of that part of Exchange Avenue, even though the neon sign currently attached to it is very tacky. Is the water tower original to the area or is a replica, attempting to provide a more old western vibe?
The stairway is really cool and I hope will remain a feature of the new development on the site. How long ago was the logo painted over? Other than that, the stairs seem to be in very good shape.