Is there a recent article (or similar) to support this conjecture? Either way, to the people who seem to know something about it, could you clarify the boundaries? Are you referring to the block illustrated here:
If so, I'm skeptical that
all of that area would be subject to such a masterplan, as it includes some developments that have already been approved as-is, and of course many other properties that aren't candidates for redevelopment.
Still, the optimist in me wants to believe there's a larger-scale plan afoot (my mind is optimistically corroborating this conjecture with the holdup in the approved Holts/50BSW project). I also wonder about: 27 Yorkville/50 Cumberland, Scotia branch at Balmuto & Bloor, CIBC building at Yonge & Bloor, 60BSW, etc. And then outside the area represented above, I wonder about the adjoining buildings at 80BSW and the recently sold 1200 Bay, and then jumping east, the entire HBC Centre complex.
All that's to say, there's certainly a ton of property begging for redevelopment and the neighbourhood could really use a more cohesive plan—it'd be great if that's indeed the case, but I'd love to see some more sources on the subject.