 In a cruel irony (for preservationists), it was said that efforts to preserve the Book-Cadillac Hotel dissipated support and contributed to its demolition.The Peebles Atlantic Development Corporation announced on December 15, 2005, that it planned to convert the Lafayette into one of Detroit's premier condominium buildings at a cost of more than $40 million.The residential conversion would have included refurbishing the historical exterior and the interior, which would have included 125 modern units with upscale amenities such as a fitness center and ground floor commercial space.