This might actually prompt me to visit this part of the core although the crappy narrow sidewalk (due to street parking) is still a big negative. Bloor (Mink Mile excluded) is not exactly a pleasant experience for a pedestrian.
You'd get more 'bang for the buck' on Victoria though. It's already an interesting stretch of street but could do with a little animation. Plus the sign has a connection to Mirvish so on the back of the theatre makes sense.