the Context development is actually on the NW corner
It is most definitely on the NE corner of Bathurst and Front, and as can be seen in this render, it's due to come REALLY close to Reve.
However, it should be noted that this rendering is probably far from being a final design. And Reve was still supposed to be a hotel when that clearance was proposed. Not sure if it being a residential dwelling changes anything or not.