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Yeah this is kind of unusual - IMO post-secondaries are typically pretty outward about their development plans, ribbon cuttings and shiny new buildings. I can't recall a similar situation where there's this gap between tear-down and announcing the replacement project. Perhaps they are farther along behind the scenes and just haven't published anything.
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They are. It is quite far along.
Quite far along can seem different to different sectors. In post-secondary it is pretty normal to have the design complete enough for permits, so you have full internal layout, full exterior, material choices and then have the project sit for a decade.

SAIT has some internal funds (and the students' union could come back to the table with its substantial reserve) for the project, but I doubt it can cover the entire scope anymore, if it ever could have.
 
The swimming pool had been shut down for at least 5 years now I think. Right at the beginning of Covid they had a really big electrical upgrade done on the campus centre. Millions flushed down the drain now
 
SAM Centre

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Frank Sissons casino undergoing major renovations and being turned in to multiple units. Also building across the street in the extra parking parking lot looks to be being remediated and that lot will also be redeveloped in to more commercial.
 

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