When will 300 Washington be built in Hoboken?

Over two years ago, a raging fire essentially destroyed the historical building located at 300 Washington Street. It’s been an empty lot since they demolished it.

However, the Architects over at Minervini Vandermark have had the design of the replacement structure (which has apparently been “approved” by City Hall) sitting on the shelf for a while.

When will they start building it to restore the look of this neighborhood? Is the fact that nothing has happened yet a sign of upcoming economic stress for our area?

Below is a superimposed image of what the spot would look like once built. What do you think of this design? Or should they have tried replicating the building that perished?

Minervini Vandermark Architecture 300 Washington Street Hoboken NJ