"It's a landmark site and I'd be interested to know what the city wants," the developer said. "At this point, we are very open-minded about what can go there. But certainly, it will be an extraordinary and unique project."
This is exactly how they will get the extra height they may need to make a profit at this location. Harry shot himself in the foot with his first few Sapphire designs, which you could tell the city never liked. Even at what I think was his first public meeting of the Sapphire (ball point) tower you could kind of tell that local wheelers and dealers were not amused. I recall people representing Trump as well as Bay and Adelaide Centre that were present who right after Harry's presentation went straight over to the city councilors with what I recall as unkind comments about the design. Harry was busy showing 1 King West owners his scale model while he ignored the people he should have been paying the most attention to.
Also, I know this location is close to so many things but it just doesn't feel like it can pull off residential, at least not a full on residential tower. The only way I can see a residential element if it's on the top 20 or so floors so at least the occupants will have a view in some directions. Really this site is best suited for office and/or hotel.