i think they resubmitted a planning application - they want to change the mix of uses, which is a predictable developer's trick (get permission for something interesting, then try to remove the cinema/hotel/theatre/whatever).
A student hostel sounds like a real downgrading. Jackie you have met the regeneration people, when is their major work starting? The partner was announced 2 months ago.
It feels like the whole Elephant regeneration is drifting and directionless and getting downgraded. Unlike Kings Cross where everything is moving at a pace and the area is already looking miles better.