3-7 West 29th Street

Images of a mysterious high-rise project have been posted on the website of Architecture Work Office, depicting a balcony-laden 50-story residential tower that balloons in area as it rises. The rendered skyscraper appears to align with a block-through development site near the corner of West 29th Street and Fifth Avenue that has been assembled by Ziel Feldman's HFZ Development. That site was purchased from the Collegiate Churches of New York in 2013 and was partially occupied by the striped brick and limestone Bancroft Building dating to 1896. Despite pleas from preservationists, the building was demolished earlier this year and has gone down as one of the city's most heart-wrenching architectural losses in recent years.
is this new tower in the works?