I'm pretty keen on the design, too. Strong, modern lines; a bit of mass, colour, and pattern; a dramatic cantilever, no apologetic podium. It seems appropriately restrained in its selection of design 'moves', unlike many other large buildings underway (Aura, the Yorkville, the new thing above Holt's).
The urban relationship to the old Victorians is a bit odd - but maybe that kind of contrast is part of what makes our downtown unique. I do hope that the grade conditions are thought about more carefully as this thing moves forward.