Likely a massing study, it's similar to prior proposals for the block with the addition of two towers.
Although NREA appears to have left the handsome Girard Building as well as an older building on 11th Street untouched, the Market Street façade isn't that much more interesting than the truncated Snellenberg's Department store that stands on the site today.
That's not to say it can't be. The proposal is rough. With a little imagination, this looks a lot like the proposed Essex Crossing in Manhattan's Lower East Side.
|Manhattan's Proposed Essex Crossing|