Really? You're actually going with "HIP" just written right there on the sign?
I'd much rather have the deliciously unhip Flamingo back, thanks.
Not that a place which literally brands itself as "hip" is in any danger of becoming so, but I fear we may get the bad trying-too-hard unhip, not the good, comfortable, don't-give-a-crap unhip.
And if the new joint isn't 24/7, it has no right to squat on this hallowed real estate.