Losing a historic building is almost always sad/bad, but in this case, it's at least being replaced by something, and something that will more ably utilize the riverfront.
The building (blt. 1861) was one of the oldest buildings remaining in the immediate downtown core, but had fallen into disrepair after the City Club moved to the suburbs.
(backhouse)
BTW, I'm surprised the neighboring Goodrich Building is not being mentioned, as it will also have to come down to make room for the tower:
