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Wow. I knew they were widening the laneway, but I didn't realize they were creating that much pedestrian space. If they can extend that allowance further south that'll actually be a nice alternative to the bustle of Yonge
 
Is the construction office sitting atop (and rising with) the elevator core?

No - it's in the ground floor of one of the Yonge street frontages - the most northerly of the block
 

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