73rd/74th street demolition

Does anyone living in NY know whats happening to the 73rd/74th St waste transfer facility (next door to our apartment between York and the river)?

I know from speaking to someone there about a year ago (I was complaining about the noise at 3am) that it was up for 'development' but I just got back late last night from holidays and was woken this morning to see that demolition on the chimney stack has begun.

The jackhammers aren't too bad as they are those small handheld units but thankfully my lease is up in 2 months so I wont have to put up with the construction noises for the next 3 years.

This is going to be a major square footage site so surprised I haven't read anything yet about whats being built."

Cheers,

Dean