Big News!
Just returned from the second of Adam Vaughan's two "pre-application development proposal presentations" this week. On tonight's roster were this site,
the Joker site,
287/291 Richmond W / 117 Peter and
60 John / 12+18 Mercer.
Unfortunately, I didn't make it to the session until after this site's presentation had begun, so I'm a little sketchy on the details. From what I gather, the site has been acquired by a new developer who has also acquired at least some more surrounding land and is planning to make a new re-zoning application with a different proposal.
He claimed that no definitive plans existed for the new development, and unlike the multi-view renders, shadow-impact studies and floorplans of the others presentations, this guy was limited to taping to the wall a copy of a survey with highlighter marks on it. As for the additional sites that have been acquired, they at least include the city-owned laneway that runs along the eastern boundary of the existing site. Another attendee told me after the presentation (but was far from sure) that the new developer had also put at least one of the north and south neighbouring properties under contract, and maybe both (or one conditionally).
The only indication he would give as to built form was that it "wouldn't be taller than the 42-storey Festival Tower" but that they would be requesting more height than the original proposal had already secured.