The Keating Yard (just north of Lake Shore Blvd and south of this site) is still - slightly - active. Over the last few years they were removing some of the track but repairing other bits of it so I suspect it is not going anywhere. A couple of the industrial sites on south side of Lake Shore still get rail deliveries.Keating Yard might be gone but is the track southwest and east of it into the industrial lands declared abandoned?
That's exactly they they are looking at this site in terms of its Canary Wharfishness.
"His company’s vision for the area just east of the Don River and north of Lake Shore Blvd. involves an office park they are calling “Canada’s Canary Wharf,” a reference to the redevelopment of port lands in London. In his grand vision, the site would also feature a sort of Penn Station of Toronto, with a GO train station, a stop on a new Broadview “LRT” connecting to Queens Quay, along with a subway stop on a future Downtown Relief Line."
Two years ago First Gulf bought the sprawling former site of the Unilever Factory. Lever Brothers had opened a factory on the site in 1890 to make soap; the factory closed in 2009. Mr. Gerofsky said his firm plans to demolish most of the factory site and erect new buildings with a total of 15 million square feet of space, providing a potential of 70,000 jobs.
His firm is prepared to donate several acres of its site to the city, to allow Broadview Avenue to connect to Lake Shore. That way, the Queens Quay LRT could swing north to Broadview subway station.
But this is only possible if the east end of the Gardiner comes down, he said.