If I had to hazard a guess I'd say that this one is still going to move forward but that it will take a year or two. Maybe they will wait until Maple is done and Pavilion is well under construction. A couple of years ago they announced a very aggressive time schedule that involved starting the Cunard Block soon after Maple but the Maple construction was delayed, and it's very rare that local developers seem to meet schedules like that.
Another similar schedule was the Mary Ann and Margaretta. If I remember correctly, at one point the developer said they'd start up the second building maybe 8-12 months after the construction start of the Mary Ann. Developers also often give really optimistic schedules for completing large buildings, like 12-16 months, but they tend to take 2-3 years from start to finish. I guess that helps sell condos.
The typically slower than anticipated pace of development in Halifax is one of the reasons why I don't think a boom and bust cycle to development is as likely as in other cities. There are a lot of buildings proposed and under construction right now but they all spend a lot of time in the pipeline and only a handful are completed during a given year. Meanwhile, the city grows by 4,000-5,000 people per year and an increasing share of people in the city seem to want to live in an urban setting.