"Alternative"? There's literally a strip club two doors down. No thanks. If you don't like the neighbourhood improving you're free to make a high enough offer to buy the land from RioCan.
A great addition to the neighbourhood. It's a bit sketchy right now but a development like this is the first big step towards elevating the profile of the area.
According to RioCan's Q4 2021 report, they have sold this property.
Page 53: https://s29.q4cdn.com/937534249/files/doc_financials/2021/q4/REI_Annual-Report-2021.pdf