Part of me wonders if some of these projects are on hold due to the ridiculously high prices of lumber. Perhaps those that have low holding costs are waiting to see if those normalize a little.
No idea if that is what is driving Five Points, but just a thought.
I have to imagine that this site WILL get redeveloped eventually, whether in the next couple of years or in 5-10 years. The location demands a higher and better use.