Just when you thought Urban Outfitters’ deal for the old Waterloo site might be kaput comes wondrous news: Devon Yards is alive and kicking.

Urban and developer Eli Kahn have agreed on a new plan – their fourth, by our count – that nixes both bugaboos: the four-story apartment building and the parking garage.

The revised proposal is strictly retail and restaurants – nothing residential.

Just what the neighbors ordered.