Part of the charm of that section is its low-rise nature -- redevelopment in this area would have to be very carefully done so as to not radically change the character of the area.
I don't consider the character of the area (between Spadina & st.George) charming. The side streets, yes. Bloor itself, no. Redevelopment could bring more retail fronting Bloor and help bridge the shopping areas of Yorkville and the Annex. It's centrality in the TTC network also makes it a good area for careful intensification.