I noticed development going on at this intersection but there was no signage. Anyone know what is going on here?

It's parking lot for the office building directly south, which is in the process of being remodeled.

Clevyr, a software development firm, owns both.

I saw that as well. I was thinking it might be part of the housing development planned for that area. Sucks that it's just parking, but at least its parking for an IT firm. Something we need more of.