I really hope if it is UoC owned they will pursue a mixed use development with institutional in the base and quite a few floors of residential above. In theory Stony Is should be high rise all along the park, and no doubt probably would be lined with Vista Homes era towers if the Great Depression didn't let all the air out of the trend at the time. That newish UoC lab school, while a nice building in a vacuum really screwed the pooch with its' squandering of a prime location right on the park with the potential for park and lake views...crazy. The corner lot at SI and the Midway is begging for an amazing tall structure.
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