Update: The Grand Opening has been moved back by a year. The center is now scheduled to open in November of 2013.
Site preparation has been ongoing at the Fountains at Farah project, and the developer has posted new photos on its website showing the progress made as of February. Construction crews have been busy clearing the site for what should be infrastructure work such as utilities and roads, followed by pad site work and what will become the double-decker parking structure.
Original Texas Real Estate Business article: http://www.texasrebusiness.com/articles/OCT11/feature2.html
Fountains at Farah Construction Progress photo page: http://fountainsatfarah.com/#/ImageGallery