On a long-term horizon, Redpath will probably either get pushed out, or sell for land value. I see no need to rush it.
Even with the relatively fast pace of development in the area, we are still looking at at least 15 - 20 years before all the low-hanging fruit in the east waterfront is developed. Ignoring the projects already in the pipeline, does anyone disagree that the Loblaws land, for example, is ripe for development before Redpath?
I doubt it will be around in the 30+ year horizon, but I don't see a compelling case to force Redpath to close before its time, losing the diversification of land uses & centrally located industrial jobs its existence entails.