A rendering can be found at the following site,
From the sounds of it the likelihood of this project going ahead is very high as they have secured a hotel operator. The design is nothing spectacular but it will definitely be an improvement.
Telus has also announced that they will be adding an additional 70 employees downtown. Telus will have almost 500 people working in the city, most of which are downtown.
The city has turned a corner, the number of vacancies downtown has plummeted with a number of new businesses opening up in the last few months.
We could see 2 cranes downtown in the next year as the wood innovation and design centre is going to be around 10 stories tall.