Earlier this year it appeared that a compromise was finalized that would preserve some of the facades of Hollywood's Great Southern Hotel, but would permit a 19-story condominium building to be built on site, set back about 40 feet from the facade.

In agreeing to the compromise, the Hollywood Historical Society issued a cautionary explanation:

This compromise was reached because the Great Southern’s historical significance to the City of Hollywood has been overlooked by the community, the preservationists, and the City of Hollywood. The structure has been privately owned, negatively altered, and has finally arrived at its present condition: "deterioration by neglect". It is unfortunate, but not unexpected, that certain individuals protested that the preservation community, (in particular the HHS) failed to exert the utmost effort to save this structure. Had these same individuals been vocal and proactive many years ago, perhaps the community might have salvaged, restored, and made this historic building an integral part of the revitalization and redevelopment of historic downtown Hollywood. We are disappointed that we could not convince our community and its leaders that this was an integral and contributing asset to the City of Hollywood and its unique character and history. We are satisfied that the HHS was able to achieve some positive accomplishments in determining the final development of this site. In March, 2005, the HHS signed an agreement with the developer. The hard work now begins to insure the facade is restored properly during the construction phase.

Not everyone is willing to go along with the compromise. A group called Friends of the Great Southern, Inc. has formed in an effort to preserve the structure in its historical configuration. Leaders of the new organization include Richard Vest, owner of the Joseph W. Young mansion in Hollywood, Florida, and two of Joseph W. Young's descendants, Rene Ann Tewkesbury, his great granddaughter, and William Young, his great, great grandson.

In looking through the Friends of the Great Southern Hotel website, it is obvious that their vision for the historic structure is preferable to that now planned, but the question to be answered is whether or not it is possible.