I'm wondering if there will be anything left by the time I get back to Reykjavík this October.
NASA, one of the main concert venues at Iceland Airwaves, has been closed, to be replaced by a modern hotel. It was a pretty good room, like most older structures in the old town it had gone through many changes in its lifetime. Since I've started going to Iceland (March, 2000) the old town has been whittled away, buildings of character have been replaced by soul-less Modernist monstrosities or by nothing, thanks to the Kreppa. City planning seems to have been overtaken by crass economic development. It is unfortunate. The old town, with its small streets and mixed use is (or was) a perfect attraction by its very nature. Another big hotel, especially on an important square, won't add anything but more congestion.
Bob Cluness has more on the story of NASA's demise.
UPDATE: Its demolition was postponed for a while, but is due in 2017.