I'll copy paste my response from skyscraperpage..
I am actually VERY pleased with this - yes don't all have a heart attack at once, as I have always felt the back end and side gaps in this block SORELY needed not only some buildings, but also some HEIGHT. THIS is the area of downdown that NEEDS to be big, as everything around it is big. I also like that it is stepped back, and the height is near the back, so that shadows won't harm the park (although there probably will still be shadows on the park so they may need to lower the height).
I also am pleased that the city is keeping such a critical eye on this - making it so parts have to be retained and other parts have to be replicated. I also love their 3 h's - height, heritage and housing. I like that vision. I don't mind height if it is in a proper place and I of course am all about bringing people living back in the core and heritage preservation. The great thing about the core is it has changed relatively little in 200 years, and it would be nice to keep as much of that timelessness as we can
I am really excited to see something go into the back area - as I often take the bus along this route - it will also be nice to have the bank building closed in and for this area to feel like a proper "block" once more
Overall pretty excited for this! I hope they really clean that stone, although as evidenced by the royal connaught cleaning it sadly does not keep it clean looking for long, one of the detriments of stone, it stains easily..
Only thing I may be critical of is what designs they plan for the side along james and the side along main - we can't see the main side design and the james st side is too small to see - I sincerely hope it has a heritage look and is not ultra-modern, although they could possibly get away with it because it will be right beside the corner skyscraper.. I like that that area of james is still relatively highly heritage looking, and hopefully they will be pressured to maintain that, although the bank across the street makes that a bit open ended..
also a little worried why they put the bank on the corner in red.. I hope they are not planning to demolish it.. because they are NOT, and I repeat NOT allowed to remove ANY of those types of buildings - the old bank buildings are off limits. > : (
..or are they building on TOP of it..? Hrmm.. I wish I had more renders and bigger pictures..
also of course we shall see if this ACTUALLY gets built - it has been a decade.. I am also surprised they are keeping the building roof on the left in the image as a 'green" roof - I would have expected they would have capitulated on any surface are they could to build height..