Handlebars in that position was definitely for the cool factor, Alan_Flor, but safety wise it was so square since higher the handle bar less the steering response.

One had the look of a Harley rider looking for something to rebel against and girls to impress which always overcame stupid safety issues when you are so young and indestructible.

Those handlebars seem to be at a ridiculous angle for riding. Maybe that was the "cool" way to have them.

That is a fountain made of aggregate stone or concrete, not something under wraps. Look at it from this street view angle:

Now that tterrace has pointed out a mystery object under wraps where the fountain used to be, I am more intrigued by that block of concrete beside the fountain in the original photograph. Is it there simply to provide a step up for little kids?

[That was my thought. Or possibly leprechauns. -tterrace]

but some of the buildings remain.

[There's something under wraps there. And still no U-turn. In 2008 at any rate. -tterrace]