Yes to both. The sweeping curves will disappear, replaced by more normal left turn lanes at normalized intersections, and the leftover land at the northwest corner of Yonge and Harbour and the southeast corner of Yonge and Lake Shore will become pedestrian plazas. We haven't seen final plans for those spaces yet.
Pretty sure the City is expecting drivers to make different choices as to which street they will turn left at to continue their eastward trek along Lake Shore, as they will have to make the one-block-north move at one point or another, whether Yonge, or Freeland, or Cooper, or Tinsley.
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