(Too great even assuming the 0 speed relative to the ground when starting?)
I believe that that speed is the primary problem here, and after that is taken care of, then mass and surface area shouldn't be a big deal. My comments about the parachutes are regarding JulesMaximus's statement that seems to say that mass, surface area, and speed are all equally important problems.
For example, if we took the vehicle (since it doesn't have to be the space shuttle as per the OP) up in your space elevator and dropped it from some height that would count as "space", then would we be able to slow it down enough to have a "cool" re-entry?
I think that it does sound possible.
After the massive horizontal velocity relative to the ground is taken care of somehow, then I think it would be reasonable to assume we could build something that would allow for cool re-entry.
Am I way off?