At the moment it's loooking like it's going to be an even bigger white elephant than that. Bessarion is a station I have no issue with (asides from the location that was chosen for it), i'd say this is looking more like a Highway 407 station but worse.
East Harbour is a station ("hub") that's predicated on nothing but promises that no one knows when will come to fruition (ie: Cadillac Fairview's development, Broadview extention, streetcar extention, etc.).
Let's put it this way, by the time East Harbour is completed not one of the things i've mentioned above in brackets will be completed. Heck will be lucky to see development start on any of them unless the East Harbour sees construction delays.
The immediate East Harbour area is all plans, that's true. But there is some density in the area that already exists and could use a GO connection closer than Union or Danforth.
- The south end of Broadview has several condos.
- The station is supposed to be accessible from the West Donlands neighbourhood across the river, which includes a lot of dense housing completed a decade ago.
- Density has been added to Leslieville, especially along Queen E, in recent years (such as Riverside Square, a stone's throw from East Harbour).
The reason there isn't much development south of Eastern on the east side of the river is because it's currently flood-prone. A flood protection project is underway to allow East Harbour station to be built. Density seems likely to follow once the area is no longer flood-prone and all the car dealerships are gone. Some projects are already in the planning stages, such as at the northeast corner of Broadview and Eastern, across the street from the new station.
There are also other projects in the area that seem more certain to advance than East Harbour:
- It looks like the Portlands area will densify before a direct LRT to Union Station is completed, so East Harbour station might be a useful interim service for those people.
- The ramps connecting the DVP to the Gardiner will eventually be moved closer to the rail corridor, freeing up land right across the river from the East Harbour site, which seems likely to densify too.
Long story short: I don't think East Harbour station is a white elephant unless the East Harbour development proceeds. Rather, I think it has a lot of value already as a local infill station and connection between the Ontario Line and the GO train network in the east end. Plus, seems to me these transit connections are basically a condition precedent to getting the East Harbour development started.