Circa on Wilshire Coming Back to Life?

Koreatown is in the midst of a residential building boom, and it looks like a long dead development may want to get in on the action.

Circa on Wilshire, as designed by Ankrom & Moisan

The owners of the land once intended for Circa on Wilshire took out an extension on the tentative tract map for the lot which will last until 2015.  Plans for a 18 floor/190 unit mixed-use tower at the corner of Wilshire and Virgil were put on hold back in 2008 amidst the real estate bust.  Developer Williams & Dame quickly sold the land off, and it's remained a dusty vacant lot ever since (look below, see how dusty it is).

With the real estate market now recovering, an already entitled project such as this seems like an easy candidate for revival.  It's in a lively, walkable neighborhood that doesn't oppose dense development.  The Wilshire/Vermont subway station and Lafayette Park are both short walks away.  As an added bonus, the Wilshire frontage of the building would offer great views of Bullocks Wilshire, the 1929 art deco masterpiece located across the street.

Bullocks Wilshire

Of course, the new developers may very well decide to alter the scope and design of the project as they see fit.  In the meantime, I'll keep my ears to the ground and my fingers crossed for good news.