They have to submit an application to have that building demo-ed and that hasn't happened yet.

Not likely to be approved unless they also reveal what they plan to replace it with.

MidtownR was acutally denied (gasp!) the right to demo a building in Midtown a few years ago because they didn't have immediate plans to develop. As far as I can remember, it's the one and only demolition denial by the DDRC.