I think the plan to realign LSB was replaced by adding storm-water retention areas in the section north of LSB and that they have added them. -not a bad solution.
The original plan was to shift the parking, or a lot of it, to the areas on the north side of Lakeshore; and to collapse the median with that space being added as park space to the Lakeside Parks. Between those 2 moves, the hope was to add ~ 9 acres of new waterfront park space.
The western segment of the land north of Lakeshore now has the BMX Park (west) and the Stormwater Pond (east). So that bit is out.
But the far eastern area still has room to shift the parking north:
^^^ That's Parkside Dr on the west side of the image, if you move the parking north, space for space and consolidated surplus land to the south you could achieve ~ 0.9ha or about 2 acres and change of new parkland on the south side.
In the central zone the land on the north side of Lakeshore has been mostly naturalized, you could remove that for parking, I would probably leave it.
But you do have some median you can consolidate to the south side:
That would add 0.4ha/1acre to the south parkland.
For the western segment:
I dont' see removing/relocating the BMX or the stormwater pond, so you're gain limited to consolidating the median to the south.
That adds ~0.6ha or 1.5 acres
So across all three segments you have about 4.5 acres of possible gain that math's out as the BMX and Stormwater facility occupy roughly 1.8ha or 4.4 acres of land.
Of these, the eastern segment clearly presents the most substantial opportunity for gain with ~2 acres in one spot added to less programmed space where something new/interesting could be done.
The central segment produces the lowest gain, because the pool isn't moving, so you'd just be adding a thin strip of trees/grass.
The west segment has more potential, but it can't be fully realized w/o reducing the parking present. There you either have to relocate it, somewhere, or you have to just cut spaces.
Removing the Kingsway onramp to the EB Gardiner would create the needed space to shift parking.....but that's an unlikely trade.