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when i visited the sales office, they said the developer is lined up and it's going to happen (contrary to what other realtors have been saying). It sounds like a bunch of the lower levels and lower price points (below 450k) have already been sold/reserved.

the First phase/building will be the building directly on michigan ave. and then there will be 2 more shorter buildings behind it, filling up the empty parking space.

the building is going be luxury and very full amenity - bowling alley, optional maid service, room service, spa, restaurant somewhere on the 10th floor or so overlooking the park.

that's all i can remember right now.
 
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