I had envisioned the tower going up where Lush and Lulumon are now (two store fronts wide) but I can't tell from the renderings if that's the case. Then I thought/hoped Pearl would incorporate the old corner building into the new building, at least on the ground floor by creating a single, large contiguous retail space something that this part of town severely lacks and the reason that's often cited for some retailers who avoid the city.
While I like that corner property, the ground floor is awful, especially at such a key intersection.
Walnut Street:
https://goo.gl/maps/5v9h0
16th Street:
https://goo.gl/maps/K7f1Z
Beautiful yes, but those dreaded windows do nothing for the cityscape. The wood door, also beautiful but not functional or inviting. A retail store here, which will require modifications at ground level, is a welcome change, I think.
What would have been really cool is if Pearl cantilevered the new portion over the corner building; if done right, it would look awesome. But it's rare for a developer in this town to be that ambitious.