Whilst the plans are now 3 years old, the planning application is still active - it's neither been approved or rejected.
Over the past 5 years the Phoenix Centre has gradually deteriorated. Windows are boarded up, paint is badly pealing. in May 2009 the centre was broken in to and vandalised (Evening News Article).
In outline the plans are for the complete demolition of the Phoenix Centre, to be replaced by a new futuristic style building. The new building would be 5 stories high, contain rooms for a new Phonix Center on the ground floor, 24 flats (of which 6 must be Affordable Housing) , and an amazing 4 car parking spaces! There would be however 30 bicycle parking spaces.
The new Phoenix Center would be on the ground floor and would contain 2 halls, 3 offices and a kitchen. It would have sole use of the 4 parking spaces.
As part of any planning approval, EDI would be requested to upgrade the path to the rear of the flats that runs along to Dundee Terrace to a value of £20,000. They'd also have to contribute £7,00 towards the City Car Club.
Edinburgh Council normally require one parking space per property. Given the pressure on parking in this area it seems this application should fail on this point alone. Sadly as this development is being run by the Councils own arms length company, this matter is likely to be over looked.
You can view the plans online via Edinburgh Councils Planning Portal here. The last update to the planning app was in November 2009 when the councils transport department said the application should be refused as their was insufficient parking provision.