Should a mid-century bank be saved?

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8150 Sunset is a proposed five-structure development designed by architect Frank Gehry for developer Townscape Partners. Its site is the eastern edge of the Sunset Strip at the border of LA and West Hollywood. Currently on the site is the Lytton Savings Bank, a modernist building designed by the late Kurt Meyer. Preservationists have earned the bank a historic designation. What does this mean for the Gehry project? Should the bank building be saved?