This is an entirely appropriate site for skyscrapers with the sky being the limit. I say this even though I would be one of those nimby's that would be entirely against any development in my own neighbourhood over 6-8 storeys.
Why my opinion is not incongruent is that Toronto's built form will always be massively dominated by structures below 3 storeys. This is best. However, diversity in many of it's forms is what makes a city or urban area great. Tall buildings belong in this mix where appropriate. As many here have commented if we are going tall we should push for the best design possible and push for infrastructure and city services to appropriately reflect the increase in density.
Speaking of density, I actually find the density in this block to be excessive. I would prefer fewer, taller buildings. I know people here generally don't believe in the concept of excessive density but it does exist in Asia and it supresses the quality of the urban environment.
Those are my general comments, although this is largely just speculative. I would not expect to see anything built here until the next real estate cycle.
