A new application and associated plans became available online (see Supporting Documentation in the sidebar) in late December 2019.  The proposal is for "a 45-storey mixed use building consisting of a 12-storey podium containing 17,622 square metres of hotel and commercial/retail space, as well as 435 residential units in a 33-storey tower above". 
So more hotel rooms!
Here UrbanToronto shares details ... and some cool renderings, including this one below:

This development, currently on the site of an active LCBO outlet, has been in planning mode for some time.  Note that the application ID (10-197695 STE 20 OZ) begins with "10-" denoting an original submission date of 2010.  
Recent rumblings include:

• this from UrbanToronto.ca: http://urbantoronto.ca/database/projects/401-415-king-west-condos
• a Request for Directions Report responding to the applicant's intention to appeal to the OMB: http://www.toronto.ca/legdocs/mmis/2016/te/bgrd/backgroundfile-92827.pdf
  

We note from the renderings, that the LCBO store intends to return to the new site.