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Redesign work is already well underway on the Theme Directory. This will be the most complex of the sub-site redesigns that we’ve built so far.
Development work to implement the design will start soon. There is already a GitHub Repository with issues outlining the design as it’s currently understood. If you’re interested in seeing early work and giving feedback, you can follow along there.
I’ll give regular progress updates in the Meta Team Biweekly chats.