depends on how the city is planed. Step by step, those old buildings will be replaced.

I believe there is a secondary plan in place for certain parts of Yonge that strictly prohibits tall or even midrise density so that Yonge retains it's character. It may eventually go upscale, but I don't think it will go up.
 
14 December 2013: St Nick Condos?
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In CanadianNational's first picture above you can see they are pouring the 30th floor.

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The L-shaped east side was never pictured in the renderings. Without having studied the floorplans, it's a surprise, and maybe something a little more interesting for the skyline than had the tower been a simpler box?

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