As nfitz says, the City is about to continue the new watermain work further east than last year's project and will start working on the Sherbourne to Jarvis section of Front (and Sherborne north of Front) any day now. This is apparently the extent of the work on this section of watermain/sewer; the sewer and watermain work on Lower Sherbourne will occur in 2012/13.
The contract to 'rehabilitate' Front from Eastern to Parliament (and Eastern from Cherry to Front) was awarded last fall and is now underway,
The City has a 'promenade plan' for Front Street from Parliament to Jarvis and planning for this has been ongoing for about 3 years. It is supposed to be starting this summer (as soon as the watermain is finished) and the end-result will see buried wires, pedestrian scale lighting, better sidewalks and bump-outs at many of the cross-streets and a median from Jarvis to George (a continuation of the median west of Jarvis). Council has approved the changes at Berkeley, Princess, Frederick, George and Jarvis.) Funds for this are coming from the City, the local BIA and Section 37 funds but the wrinkle is that Hydro have not been playing ball. Though they were slow to respond to requests for information on possibilities for burying wires or installing new lights before they were refused the recent rate increase they have, apparently, been even worse since. The promenade plan is supposed to be finished by the Pan-Am Games and will link to the 'promenades" on Lower Sherbourne (to be done in 2013), Lower Jarvis (to be done when Market Wharf is finished?) and Yonge - done in 2010.