Well the city's Landmarks Preservation Board has now voted to let the owner of the building tear it down:
The landmark designation for the Denny's, which Benaroya shut down last year, sparked passions because it touched on property rights, historic preservation, growth and the continued evolution of once-quaint Seattle neighborhoods. Hundreds of Ballard residents banded together to try to save it.
Their efforts worked at first, but Wednesday the board was required to consider its decision's economic impact on Benaroya -- a factor that by law it could not take into account three months ago.
The Denny's will be replace by (wait for it...) condos.