We describe LINC-NIRVANA, a 1-2.5 micron interferometric imaging instrument for the Large Binocular Telescope. Operating in Fizeau beam combination mode, LINC-NIRVANA will deliver the sensitivity of a 12-meter telescope and the angular resolution of a 23-meter telescope. Unlike traditional interferometers, LINC-NIRVANA will be a true imaging device, with a field of view of ten arcseconds on a single HAWAII-2 detector array.LINC-NIRVANA employs a number of state-of-the-art technologies, including multi-conjugated adaptive optics (MCAO), innovative cooling systems, and complex software for instrument control and data analysis. We report on overall project progress and highlight some unique aspects of LINC-NIRVANA that should be of wider interest to the near-infrared instrument-building community.