I wasn't expecting a skyscraper here, but the disappointment comes from a collective of what we've seen in this town with potential projects, not just THIS one single mixed-use space, which wouldn't surprise me if it was downgraded again into just apartments with no hotel attached.
You say "this town" like it never happens anywhere else. Large cities have projects announced and altered or canceled all the time. You're just hyper-aware of it when it's in your hometown. Shi..stuff happens. Money doesn't fall into place, priorities change, COVID, sometimes an announcement gets made to build awareness and court investors.