Just south of it is another building which looks like a car dealership that is now a homeless/immigrant/warming center? Any idea if that will be part of this project?

That property is separate. Here's the thread for it:

 
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Looks like a photo update will be needed for this project. Currently construction has now reached street level and the first level is starting to be set up.
Questions for those in the know, is the project officially 5868 Yonge St.? I see the signage for the construction site listed as that.
 
Legally 5840, 5868 & 5870 Yonge land assembled for this project,.... site will eventually be severed into 3 lots,... condo will be 5858 Yonge, dealership will be 5868 Yonge
 

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