Glad to see someone jumped in to bring up the "keep a wall some how equals renovation" bandwagon.
As ParkRumors posted on another site, the permit is clearly for the vast majority of the building, if not the entirety. The fee for a demo permit is based on square footage. The total permit costs 116.50. The fee for the first 1,000 sqft is $50, and every 1,000 after that is $3.50.
116.50 - 50 = 66.50
66.50/3.50 = 19 = 19,000 sqft
1,000 + 19,000 = 20,000 sqft, which is the area of SS44.
And if Shrek and Donkey is being demolished as well, the only thing that's going to be standing is a wall at the most.