Hmmmm. Another attempt to demonize "the rich"? Meanwhile, anyone of modest means living in a south facing apartment in City Place has a far more spectacular panoramic view out across the Toronto Islands, beyond the Western Gap, and to the Eastern Headland than someone in Pier 27 will.
unimaginative2: There is no logic to your claim that institutional use is "obviously" the best use of this "prominent" site simply because a 24 hour a day institution may ( or may not! ) draw people there "from all over the city and outside" at all hours of day and night. There's nothing important about this site, other than the fact that it's where the landfill meets the lake near the base of Yonge Street, and it can't be described as any more "prominent"? than anywhere else along the harbour where the landfill meets the lake. Captain John's sank there - and Captain John's is a business - so I suppose a tenuous case could be made for a permanent consumer festival to celebrate the only memorable thing that ever happened there. And I think you're kinda making it.
Precisely which ]institution, that's open 24 hours a day, do you have in mind? Neither Ryerson nor the U of T are open to the public on that basis, nor are any museums or concert halls that I know of.
Also, if the lot is "carved up into dozens of lots" as you want it to be, how can it be used for an institution? An institution requires a large lot - not the tiny twenty-fourth of a lot parcels that will survive after your beloved government bureaucrats have expropriated it.
Harbour Square was, indeed, a pioneering building, unimaginative 2, not only expressively - the concrete brutalism that's so characteristic of the Toronto of that time - but because it was the first to bring people to live in a derelict former industrial district and helped revive it. Pier 27 continues that initiative. I realize you have a history here of objecting to reviving derelict former industrial sites for people to live in, but that doesn't negate the fact that it's happening and that good local firms are doing the work, now as before.