From the reports at Sporza, this sounds less like "if" than "when" and maybe "where." Actually, the initial "when" is known: on May 22, 2011, there will be a UCI 1.1 race of some 180km ending in Berlin, possibly with some closing circuits. By 2013 the organization would like the race to appear on the World Calendar. I'm not sure who the money is behind it, but Erik Zabel is the face of the effort. Good choice there.
Just a dash of speculation here: are we seeing the thawing of Germany's icy relationship with the sport? The media and public outcry over doping has stopped the DeutschlandTour, ended T-Mobile's long run, minimized the chance of Milram ever succeeding, and limited the sport to one Pro Tour event -- a small footprint for a large country bordered by several top cycling nations and producing its fair share of talent. Germany may not need cycling, and vice versa, but the cycling world is a better place with German riders, fans and events in it.