If your going to use that photo, use the entire photo. The bottom where it shows the street, ruins the photo. It doesn't mesh properly it looks off. I see the idea you had behind it, the look, but it just didn't turn out, scratch it and just stick with the entire photo.
I'd work on the background, I'm not too sure those clouds are working too well for a contrast on the photo. The blue one looks better with them though.
Play with the border some more, you can come up with something better than that.
The text is the worst, it needs to be completely re-done. Get some catchy fonts and try something more simple and clean looking, that is clear.
Overall, I really like the photo being used, but it's not being complimented correctly. Your taking away from it. Build your cover around that photo.
Good luck.