If it's going to be an iconic project, I expect it to aim for LEED goals as a minimum. This is 2013 --- truly iconic architecture seeks to be sustainable.
My concerns relating to "real world concerns" relate to sustainability, as well as issues such as leaks and vapour transmission through building assemblies. Looking at the expansive areas of custom-designed, curvaceous glazing on his models, I feel as though the institutions in the podium of this project are going to have some serious leaks and issues relating to longevity. A lot of Gehry's work has been successful in warmer climates, but I'm a bit worried how successful it would be here in Toronto. Designing a building for the extremes of Toronto is a lot different than designing a building for warmer or more moderate climates.
Several of Gehry's designs have had him sued for cracks, leaks, and mould issues, not long after their completion, and in his project for Bard College, the roof had issues that were attributed to Gehry's design specifications not taking properly into account the climate's variability. Gehry tends to blame "value engineering" as the culprit in his designs that have had leaks and mould problems. What is concerning about this in the case of the Mirvish & Gehry project is that there is so much "value engineering" in Toronto's condominium market already, and in order to make a reasonable profit, the same thing will happen on the Mirvish & Gehry project.
These concerns are not reasons for the buildings to not be approved, but they remain concerns of mine. Maybe I'm naive, but I don't trust Gehry's office anymore than I do other architecture firms, who make misguided compromises in their designs because to beef up a roof structure or change an assembly to suit our climate negatively impacts the look of their envisioned design.
For planning issues, my primary concerns are the continued demographic homogenization it will encourage in the neighbourhood, and the over-provision of parking (encouraging vehicular use and traffic). Lower-cost housing is a desperate need in downtown Toronto, and will be even more-so in a few years. And yet again, as I have said earlier, I think this project encourages the precedent set by other condo projects in Toronto. The "point tower" is very overdone and we really need to find ways to explore mid-rise development, especially in areas outside downtown.