Probably pretty cool, I wanted one close to the river myself... or close to the softball/tennis complex... at this point, I'll take what I can get. I think the UA Admin likely has other long-term ideas for most of that Bryce land, and I would imagine that would have been a hurdle. Also, a lot of that land contains contaminated soil that has to be fixed (replaced/cleansed/whatever it is they do) first before any construction can take place, and I don't think that has happened yet (though I could be wrong). Another major reason it wasn't moving was the addition of Sarah Patterson Champions Plaza. It was designed to be an integral part of a new stadium.
I don't think this is the Coleman renovation part II. The Coleman renovation was taking an El Camino and putting a new paint job, stereo system, and cup holders in it. In the end, it was still an ugly as El Camino, only with less leg room thanks to the cup holders. The baseball stadium will be new from he ground up, only the location will be familiar to folks according to people who have seen the plans. And looking at the price tag, there is no reason to doubt it.