This had been talked about on the forum before but I don't think it ever had it's own thread. Let me know if I've missed it.
An update was held last month on the status of the project. This is what was shown.
The dedicated bus lanes seem to have been dropped in favor of protected bike lanes. A raised landscaped median will be added, but turn lanes will be retained at major intersections. Parking will remain on the South side of the street. Bike lanes will have a larger area of separation and appear to be protected by curbs.
Construction is expected to begin Fall 2020 (pending the completion of the White Settlement Rd bridge) and last a year.