Plans for a purpose-built NZ School of Music building adjacent to Civic Square have been revived this week, thanks in part to the City Council agreeing to a peppercorn rental for the site and MPs from several parties uniting to seek government funding. The original proposal drew opposition from the usual quarters, including the Wellington Civic Trust, before it was approved by council in 2004. After running into funding troubles for a while, it looks like the proposal may finally be on its way to becoming reality.
The rendering shown in the paper and online is unchanged since the first proposal, though I understand that the design shown has never been more than a very vague initial indication of the form it might take. I certainly hope so, since although it's a fairly decent design, this site and activity deserves something much more spectacular. If it's done well, with the right sort of public access, then this school and associated auditorium will not only physically complete the original vision for Civic Square but bring it much-needed night-time activity.
Update: you may also be interested in the recent council report (70kB PDF) and its appendix, the decision document from 2004 (329kB PDF). The latter is especially interesting for its discussion of alternative sites, proposals for replacement green spaces in Te Aro and the summary of submssions and surveys.