 Pick closed the hotel in 1973 and sold the building to three twenty-something investors who reopened it as The Shelby Hotel, a hotel/apartment complex geared toward youth in 1974, however, this was short-lived and it soon closed again.For many years, the Anchor Bar, a popular watering hole for workers at the nearby Detroit News and Detroit Free Press remained the only tenant until it relocated in 1994.The hotel was listed on the National Register of Historic Places in 1983.