Definitely overdue but very, very welcome news nonetheless.
I have long been dismayed that Disney has let the near lifeless environment of Pleasure Island languish these last number of years. The company finally announced today a rather ambitious makeover for the Downtown Disney district that will be completed by 2013. I am especially taken with its new name, Hyperion Wharf, for rather obvious reasons. Nightclubs appear to be completely jettisoned in favor of more retail and restaurant space. The area's new theme will be a " . . . nostalgic yet modern take on an early 20th century port city and amusement pier."
Other Downtown Disney establishments will be experiencing upgrades and enhancements, including a major expansion of the Lego Imagination Center.
Check out the Disney Parks Blog for more concept art and further details.