Excavation is nearing completion at the site of Motion On Bay Street. As we see in this picture, taken by UrbanToronto forum member androiduk, preparation for the arrival of the crane is happening with the pouring of the crane's base. 

Motion On Bay Street rental building Toronto by Concert PropertiesMotion On Bay Street, Photo by androiduk

Located at 570 Bay Street (southwest corner of Bay and Dundas), this new 29 storey buidling is actually a rental building. Here's the rendering for the project.

Motion On Bay Street rental building Toronto by Concert PropertiesMotion On Bay Street Rendering

Developed by Vancouver based Concert Properties, the building was designed by Young & Wright/IBI Architects. Completion is expected in the fall of 2012.