I haven't heard anything new about the status of this project, but I'm starting to rethink my previously-stated and firmly-held belief that it's the catalyst that Downtown needs. By this point, I think it's mostly clear that Downtown is revitalizing, and probably faster than most would have predicted. I no longer think Downtown's success or failure rest on the shoulders of a single development (and it likely never did). I think we might actually be seeing this project suck all the air out of the district, because it's consuming both speculative and real demand without moving toward filling it (so far).
I know that a lot of people will be very disappointed, and also probably emphatic about the doom it portends if this project fails. I think I'm coming around to thinking that it might be what's best for Downtown, at least in the short term. How many other projects might immediately come online if several hundred motivated, upmarket buyers flooded the market all at once?
"I have always believed that what is originally an abuse does not cease to be one by having become customary."