KKgg7: As of now there are projects popping up on Dundas and Jarvis: Pace condos has already been sold I believe and construction will begin relatively soon, while 200 Dundas East is being repackaged and sold as a potential development site. Otherwise, between Jarvis and Parliament nothing is happening on Dundas E that I know of. There is a decent project called the O2 Maisonettes on George and Shuter, though.
It would seem we both share a desire for the East side to get spruced up. As you said, if Regent Park can work, anything can. But there is a lot of work to be done: Moss Park has to be taken care of, while social services in the area need to be reimagined. Perhaps there should be a nice place for the homeless to hang out instead of the street, which is the only thing keeping private dollars from Dundas and Queen East, given its evident charm in the form of our heritage buildings and the infrastructure already in place.