The modern-looking building was already approved by ELVN. They had said that "no favorable comments were made" about the looks, but it was still approved (
PDF). There must be some other asinine community group that has something against it, because the unit count went down and the parking went up. Not too long ago, there was a news post on Cappleman's site that had said that Loukas wasn't proceeding with anything anymore, so it's possible that this is a new developer?
Edit: By the way, a woman that I spoke to at Cappleman's office said that she and James are not for a regressive design at all, nor is ELVN, necessarily. It's likely that Loukas (they are still the developer) feels that this redesign is the quickest way to get the project approved. The zoning change they need is from B1-2 to B3-5, hence the need for community approval. Odd, though, that ELVN approved the changes for the old design already, yet the unit count went down and the parking count went up. Supposedly, though this is suspicious, the new aesthetic is because the prior architect could not design around the new unit and parking count, so Loukas hired a new architect.