Aspiration
As with so many development proposals in Toronto, the issue isn't so much whether its good, as opposed to bad; its whether its good when it can and should be great.
The proposal (based on the renderings) is above average for this City, not that that says much.
The public space component will undoubtedly be a significant improvement over the moribund parking lot that sits there today.
But, at the Foot of 'The World's Longest Street', in the heart of the waterfront of a would be world-leading city, is this the best we can do?
I surely hope not.
My personal take is that the West 8 proposal didn't require the whole site, so the City shouldn't expropriate the whole site, it should simple expropriate what's needed for a grand waterfront pier, then let Clewes and company have at what ever is left.
Alternatively, the City could swallow the whole site, and hold a design compeition for the buidling on the remainder of the site, but it could still be a private buidling, paid for by private money, with the cost of the land being recovered from whatever developer wins the compeition.
Not that I expect either of the above to happen, but it would be nice if we, as a City aspired to something better than 'above average' on such a prime piece of land.
****
I hasten to add that the (NET) cost of acquiring and redeveloping Habour Castle/Square need not be prohibitive, providing the intention is to allow for new private redevelopment subject to better design standards and a more accessible waterfront.
Its likely that a hotel/condo proposal on such land would be worth considerable more than the current buildings, allowing for substantial cost recovery.
Of course, if you want to buy it all for a park, or low-rise, then we're all in the hole for a billion.
The main thing wrong with those buildings though is not the height.
Its the 'wall effect' and mediocre design.
Just ditch the giant parkade (put the parking underground, and less of it) , re-face the lower levels, create 1 or 2 wider, clearer access points and water views and the problems are largely solved.