ɐknˈɑːlɪdʒɪŋ ðə dˈɪfɪkˌʌltiz ʌv ɹˌiːdɪvˈɛləpɪŋ sˈʌtʃ ɐ lˈɑːɹdʒ bˈɪldɪŋ, lˈoʊkəl pɹɪzɚvˈeɪʃənˌɪsts ˈɔːlsoʊ hæv ɛkspɹˈɛst ˈɑːptɪmˌɪzəm ðˌæɾɚ ɹˌiːdɪvˈɛləpmənt bˈuːm ɪn dˈaʊntaʊn mˈɛmfɪs, pɚtˈɪkjʊlɚli kˈʌpəld wɪð ɪŋkɹˈiːsɪŋ ɹˌɛzᵻdˈɛnʃəl ɡɹˈoʊθ ɪnðə nˈeɪbɚhˌʊd, mˈeɪ mˌeɪk ðə stˈɛɹɪk bˈɪldɪŋ, wɪð ɪts hˈaɪt ænd vjˈuːz ˌoʊvɚ ðə mˌɪsɪsˈɪpi ɹˈɪvɚ, ɐ kˈændᵻdˌeɪt fɔːɹ ɹˌɛzᵻdˈɛnʃəl kənvˈɜːʒən tʊ ɐpˈɑːɹtmənts ɔːɹ kˌɑːndəmˈɪniə.
Acknowledging the difficulties of redeveloping such a large building, local preservationists also have expressed optimism that a redevelopment boom in downtown Memphis, particularly coupled with increasing residential growth in the neighborhood, may make the Sterick Building, with its height and views over the Mississippi River, a candidate for residential conversion to apartments or condominia.