Many contemporary building codes require sprinklers for any building over four stories. To me, the neglect is a sign of economic conditions effecting development more than other factors. For example, if the location was highly desirable and the market for new space strong, redevelopment would make sense.
In New Orleans 1972 a concrete and steel building called the Rault Center had it's top two floors gutted by fire, likely arson. The building has been vacant since then, much of it in an almost skeletal state and yet a renovation started last year.
If the Rault Center had sprinklers tragedy could have averted, but I don't believe a wood building could have contained the fire. A wood building certainly couldn't have stood neglected for decades after and still been of any use. http://www.theadvocate.com/new_orleans/news/article_9ca3a457...