They've bulldozed the old houses, which weren't architecturally "historic" enough for this forward-looking city.
Other than the bulldozing, nothing's happening yet.
This is a view from the south end at Somerset looking north. That's the back of Santa Fe Plaza at the other end of the field.
A few months ago, there were a lot of these "Scale back the park" signs along Rubenstein on the west edge and Somerset to the south. Now only a couple remain along Somerset. I think the web site referenced on the signs is defunct.
Judging from the signs, I thought these people on Somerset were screwed. Their street is the only current access to the property from the south, and their quiet little neighborhood would get a ton of traffic. It turns out the plan is to run a new access road behind the neighborhood, next to the freeway. You can see the site plan here. There will be a 6' concrete wall around the park to keep the park riff-raff out of the 'poser district. The only other access will be from the north, just west of Santa Fe Plaza.