What’s Going on in Bayville?

If you live in Bayville or just drive-thru everyday, you'll notice there's work being done right along Rt. 9, across the street from the entrance to St. Barnabas Church.

For years, this lot has been vacant.  It's right next to the Little Caesars plaza and Richard's Sub World.  There seems to be a lot of work being done.  Buildings coming down and at least it's looking nicer.

Any ideas what's going in here?  Will it be retail or more condos?