Both option are good, but I personally believe the better option would be the one with more retail on the second level. Yes, it might be a bit more work to fill it in the short term, but strategically I think City Centre needs a certain amount of retail to remain viable as a shopping destination of any sort and there really is a dearth of retail downtown generally and nearby, despite increasing residential development nearby in recent years. The vacuum will be filled eventually, if not by City Centre, then someone else.
I think the food and beverage area is very well located, close to the LRT. It will likely attract a number of additional customers by being well located and accessible. No need to take escalators up three levels to get a coffee or a snack - again, what a concept!
It would be smart to incorporate some street facing retail on the perimeter of the parkade and/or expand the existing hotel space towards the street, particularly now that the Ice District and its large buildings are just to the north. When Eaton Centre was built, it was just surface parking lots there, so the north side then was probably an after thought.