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What's The Deal With the Sign in Front of 524 Howard Street?

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From the Curbed inbox:

Hi there, I saw a sign up for a new highrise building at 524 Howard Street on my way to work. Given the narrow lot, the building looks very skinny. Do you have any information on this potential new development?

The sign our reader noticed is a proposed 44-story residential tower by Crescent Heights and Handel Architects, who also designed Crescent's Nema project. While currently a surface parking lot, the narrow parcel is part of the Transbay development plan, and zoned for up to 450 feet. The initial plans for this skinny, glassy tower have been sent to The Planning Department for a preliminary project review, the results of which are due by late August. In the meantime Crescent hopes the site will continue to operate as a parking lot until construction is approved.

·New Market Street Development Begins Leasing Apartments to Support "Tech-Savvy Lifestyle" [Curbed SF]
·Crescent Heights seeks to go much higher at its Transbay site [San Francisco Business Times]