-First 7 storey condo building is 80% sold
-Second 7 storey condo is approved and should be opening sales by January (I'm personally hoping that because sales went so well for the first tower that they will increase the height on the second one)
-8 storey hotel tower is awaiting approval
All three towers should be under construction by spring 2013. Not sure about timeline for the waterfront landscaping. Pretty impressive for a "have not" city.
It will also make quite the modern mark on Thunder Bay's waterfront skyline which features 2 100 year old highrises and many semi-modern apartment and office buildings. Pretty cool times.
Here's some current skyline pics to show the context of how much this will change the look of the city:

and from this vantage, the new towers will be at the forefront of the skyline directly in front of the modern building pictured.