The Phantom Dust remake announced at E3 2014 is no longer in active development.
This should come as little surprise as publisher Microsoft parted ways with Phantom Dust developer Darkside Game Studios back in February.
At the time, Microsoft said, "we can confirm that development of the title continues," despite its developer being let go. Some postulated that a new developer would be brought on to finish the job.
But when asked about the project in an interview with Gamer Tag Radio at E3, Xbox marketing lead Aaron Greenberg said "we don't have an active developer on it right now."
"It's been a passion project for [Xbox boss] Phil [Spencer] and a lot of the folks on the team," Greenburg stated. "And we're currently exploring what we're gonna do longer term with Phantom Dust. The project is not cancelled but we don't have an active developer on it right now. It's a project that, like many things, will take a little more time. But at this point we're not giving any more updates on it."
While this doesn't mean the game will never be made, it sounds like it's on an indefinite hiatus.