I propose we take the old Master's, Alexander's, Corvette's and all the other names and convert them into a transportation hub. The building, on Main Street and Roosevelt Avenue, could have the Long Island Rail Road on one side and the 7 train underneath. The AirTrain could be brought right into the building, connecting everyone and allowing people to make their transfers.
Make downtown Flushing major transportation center
The building could also be made into small shops similar to Penn Station. This would be the gateway to Flushing and all it has to offer. Instead of exiting the subway system onto a rain-soaked street or trying to find your friend waiting in a doorway, you could be in a large heated or air conditioned, stunning waiting room with shops and amenities.
Photo from NY Times