This is the former airline terminal under construction on the Island. It's going to be a performance arena of some sort and rumor has it that it's going to be a nightclub with an aviation theme.
Blog reader Troy has sent us this photo of the 1930's airline terminal at LAX. It could very well be the inspiration for the one in Disney Springs. While not as tall of course, the art deco look of the tower is quite similar, even down to the marquee over the front doorway. Thanks, Troy!