It refers to the City but doesn't get into the details
"Proposed development on the Conference Centre site will require further discussion with the City of Toronto. The existing Management Agreement is flexible and has provisions to accommodate unlocking the development potential."
"11 BAY STREET – WESTIN HARBOUR CASTLE CONFERENCE CENTRE According to Bousfields Inc., the Conference Centre site could accommodate a two tower scheme with a 4-storey podium, subject to a successful rezoning. Currently, the existing 2-storey Conference Centre contains ~110,000 gross square feet. Bousfields has made the evaluation that the site can support the development of a 57-storey tower at the northeast corner of the block with a floor plate of ~10,000 square feet and a 52-storey tower at the southwest corner of the site with a floor plate of ~9,400 square feet. A podium that connects the two towers could be constructed to include a grand entrance with street or underground parking, and public space servicing both towers. This would eliminate the existing ~110,000 square foot Conference Centre. The development potential of the two towers at the Conference Centre site have been estimated to be a total of ~1,130,000 square feet. Further negotiation is required with the City of Toronto for development at the Conference Centre site"