EPCOT (yes the caps are back) has unveiled the first official look at the combined Phase I and Phase II reimagining of the park:

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Shown is confirmation that the 1/2 of Innoventions (fka Communicore) will be razed and a new contiguous structure will not be rebuilt.

Clearer in other concept art displayed at D23, a small fountain is planned with a globe centerpiece, presumably the tribute to the removed Fountain of Nations.

The new Moana Water Journey is presumed to be depicted by the mixed greenery and water area between The Seas pavilion and the new central thoroughfare.

A new structure appears to be depicted toward the back of the new area. Although not yet announced, this is anticipated to be a new Festival Center pavilion.