I think it will accelerate the development in the area in general. If you go onto the City of Toronto Application Planning site, there are already 4 more similar projects planned along Kingston road. The North side isn't that bad- it is not prestige retail but at the same time the amenities match the current need in the neighborhood. Like any gentrification- once the new upper-market condos are put in, the lower end retail will not have a buyer and will be driven out of the market.
Once owners age, properties will change hands to their children who will more than likely sell to developers. I will be interested to see how much these units go up when the building is finished. A purchaser was trying to flip her 1BR 599 SF unit on Kijiji for $289,900- which is an increase of $100,000. Not sure if it sold or not, but she took it down.
One thing that is concerning is the townhouses that face that ghetto wall. That street beside the building is going to be a security concern.
Parking Garage is done, they are working on the ground floor, much like I predicted at the end of august (roundabouts) they sent out an email with revised completion dates for spring/summer 2018.