Just saw something really interesting on CityNews Headlines as I was watching Breakfast Television. It said that the project was in the "works" but also said "the Princess of Wales will be demolished".
This almost makes it seem as if the project was approved and they're certainly going to tear down the theatre :o (which I know can't possibly be the case).
Unless CityNews is just trolling, this is some exciting news! Until then we'll just have to wait for the press conference