Based on the above I drew up an aerial pic of the site, when compared with the stated area, I'm just a tiny fraction under.
Given that the site is surrounded by ravines and waterways on 3 sides, I thought we might want to look at the floodplain map:
The apartment site is a figurative island!
There is definitely room as the massing model in their video suggests for an additional building on a portion of the existing surface parking.
As the owners appear to have the entire ravine/floodplain on the Islington side in their ownership, I see a very easy parkland concession that works out well for everyone.
Rather than Streetview, I'll take a screenshot from the linked marketing video:
We can follow that by showing the proposed massing model for a new building:
cool break down, i find this site specially interesting because i used to live there long time ago.
also note that under the parking lot is a single level underground garage for 265 Dixon rd., so renters of 265 would lose their underground parking
The Infrastructure located on the Property include a failed outfall and exposed sanitary sewer in Humber Creek, west
of the intersection of Dixon Road and Islington Avenue (see attached sketch and map). While the City retains an
easement over part of the Property for maintaining the sanitary sewer, additional lands are required for construction
staging. The proposed Licence Agreement would permit the City to perform both urgent and planned state-of-good-
repair work to the Infrastructure, including the storage of all necessary vehicles, machinery, and equipment, and to
remove and/or replace trees, plants, soil, fill, and perform erosion-control works to protect and preserve the
Infrastructure.