According to an email from Hospitality Lodging Investors the Hotel Indigo and the Residences at 151 construction is moving along. Ten stories of steel have been raised and floors have been poured on the first seven floors. They have a photo gallery of the construction at: Valcour.com/IndigoConstructionPhotos.htm
The artist rendering of the final product:
One of the floors on January 5, 2009:
The steel structure on January 5, 2009: