On Tuesday November 18th, Real Estate Collaboratives LLC, went before the Municipal Planning Board of the City of Orlando.
At the meeting they formally asked the City to remove the Planned Development zoning from the property located at the South East corner of Smith Street and Edgewater Drive, the CVS - Blockbuster block. The zoning will now go back to the former zoning which was primarily AC-1/T with one parcel an R-2/T.
You can see the full report on the City's website.
This merely means that the building that Real Estate Collaboratives had planned to build at this location, and the City had approved, is no longer approved. What can be built there is what is allowed by the zoning.
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