The developers hope to announce a demo 'soon.'
Now a new group calling itself HECU Collective has begun work on a similar overhaul for the Gearbox-developed Half-Life expansion Blue Shift. Called Black Mesa: Blue Shift, it will make use of Black Mesa resources and be developed in the same style, and like Black Mesa will be released in chapters. It's not clear how far along development is at this point, but the team shared some screens and said that it hopes to announce a demo soon. And it does have some experience in the field, having previously released the Black Mesa mods Black Ops and Azure Sheep.
You can also take a listen to the first track from the Black Mesa: Blue Life soundtrack, by composer Aslan Akhmetov, below.