While it was "Eisenhowered" ( I think you have to have been in the City, not just the Bay Area, and be a certain age for that reference), the covering of that beautiful building with that ugly facade actually happened during the Johnson administration (1964).
At least it wasn't Rockefellered.
More to the point: looking back through the newspapers.com archive, the first reference I found to the term was in 1957, by a syndicated columnist named Holmes Alexander. He used the term to refer to conservative Republican senators who had changed their votes and public stances to line up with President Eisenhower's more moderate politics.
The term pops up again in wire-service dispatches around December 11, 1961, this time referring to John F. Kennedy. President Kennedy's more liberal supporters were becoming disillusioned with some of JFK's more moderate stances. They accused him of having "out-Eisenhowered Eisenhower".
It wasn't until the 1970s when the term had a more cultural flavor. Still, it wasn't common. In 1979, a Dayton (Ohio) Daily News editorial referred to the 1950s in this manner: "Americans as a whole are spending less of their income on food now than they did in 1960, when everyone was complacent and Eisenhowered back." Didn't realize it could be a phrasal verb.
A couple of examples, on consecutive days even, came in January 1980, in a Houston Chronicle review of a biopic of Jack Kerouac,
Heart Beat, starring Nick Nolte. The Chronicle's critic, Jeff Millar, didn't think much of the film. A January 17 preview of the film pretty much sums up the use of the word "Eisenhowered":
The film recalls the lifestyle of the "beat generation" which lived beneath the bland Eisenhowered America of the 1950s ....
The next day: the movie review:
But what you'll take out of the film is the latent image of Nolte as this walking hyperbole, full of Lee Marvin hipster mannerisms and fully self-aware. He smiles at himself as much as at the squares of the Eisenhowered early '50s with whom he finds himself sharing a planet.
The only reference to "eisenhowered" that I found that relates specifically to San Francisco real estate was in the San Francisco Examiner in 1986, when it was serializing the Armistead Maupin stories that later went into Significant Others, part of the Tales of the City series. That may seem a thin thread to hang on to, but Maupin is a quintessential San Francisco author even if he doesn't live there any more, and I have to believe he was reflecting what he heard and saw going on around him in the city at the time he was writing his books.
While never a formally defined word, it seemed there was enough understanding of the concept: a bland exterior hiding something more interesting going on inside. Then, for whatever reason, San Franciscans adapted the concept to refer specifically to real-estate.
What amazes me most is that when they changed it in 1964, it appears that virtually the entire original facade was intact underneath, and literally all they did was box it in. Either that, or it was a masterful restoration job, because the way it looks now is virtually identical to how it looked pre-'64 aside from the lack of "telephone" across the top, and the more modern-looking front door (and, probably, the paint job, though it's hard to tell the color(s), if any, it was painted in the B&W photo).
One of the folks at the museum told me that they were looking into doing something with the blank space where "Telephone" was. One possibility was putting the museum's (or society's) name there; another was to put "Telephone" back up there.