The project is actively advancing but not yet fully approved or funded. A redesigned “Concept 2.0” plan—smaller, less expensive, and relocated within Bay Park—has been presented to the City Commission and generally received positive feedback.

Key points:

• Scaled-down design: Now a single-building concept with reduced seating and improved resiliency.

• Lower cost: Estimated roughly $260–$295 million, down significantly from earlier plans.

• Funding plan: Private fundraising is expected to cover a large share, with about $88 million in public funding still needed.

• Location: Planned within The Bay park, integrated with broader waterfront redevelopment.

• Next step: The city is still working toward an implementation agreement, which is required before moving into detailed design and construction.

Bottom line: 
The project has gained momentum with a more realistic plan, but key decisions—especially funding commitments and final approvals—are still pending.