It has potential to be a lot of interesting things: basketball half court, climbing wall (liability issues), a water feature that flows into Lake Ontario, a green/living wall, a projection wall for night time movies, a rubble wall that's nicely up-lighted at night, a giant mirrored wall to make it almost disappear, the blank wall could serve as a nice backdrop for a free-standing sculpture in front of it, etc...
It's too bad that this stretch of water walk has to end so to abruptly by that wall, there is no consideration on what happens at this terminus. It's like there is some anticipation that Redpath will be gone and that wall will be knocked down to continue the water walk at a later time.