Ok...so which is it....build the high density on subway lines to promote public transit use....or stop doing it because it promotes too much public transit use?????
One could also argue that all these downtown residential buildings actually promote walking and cycling more than if these residential units were built elsewhere, so in a sense, helps to decrease road and transit overcrowding by increasing walking/cycling modal split.
And perhaps we should start electing politicians that actually have the guts to do what it takes to solve the problem...invest in more infrastructure to match growth...not try to stop the growth. That's their job.
As for the current building....well, I'm afraid that kind of 50's modernism does not take well to "updates". It's subtleties require it to remain in pristine original condition, (and that is unlikely to happen). Ideally, this building would have it's facade restored to absolute original and replace the POS on the SE corner with an interesting contemporary tower instead. If that were the case, we would end up with one of the best intersections in the city in terms of something nice from different eras on every corner.