Rhed is not a developer, they are a "secret" design firm without an architectural license or a physical address. Their work consists of primarily small conceptual design projects. They shouldn't have been doing buildings in the first place.
Rhed is still has another property on Wellington west of Bathurst which is a renovation of a small 2-storey warehouse building which has been in construction for the past 5 years. I live in the area so I still see trades coming in and out of the building, but very little progress on the building over the years -- looks like it's being used as a storage facility, so yes you could say they are squatting on that property.
The properties surrounding the Templar on all three sides are prime real estate for development. Ironically northeast corner of the block behind it which includes Rhed's failed Langston Hall 2 development site is being developed into a 36-storey aA-designed condo by Fortress/Carlyle/Berkeley. This block will eventually catch up with the rest of the ED neighbourhood packed with highrise condos.
