11 units per floor, I think.

This is exactly the kind of building we should be building, not demolishing.
Neither this height nor even something much shorter is allowed today. The maximum height through the Annex is 12 metres (3 storeys or maybe 4 short storeys) with up to 14 metres on St. George (4 storeys). So anyone wanting to build anything taller such as even this existing building has to rezone which is multiple years and millions of dollars. Annex Residents Corp will fight you to the death for anything. Neighborhoods are untouchable. Even 30 story buildings on Bloor West at subway stations are fought like an invading barbarian force. Yet we need housing and the market reflects that. So stupid things like this happen instead of an orderly use of the land Toronto actually has, thousands and thousands of acres untouchable where the people with power live. This site redevelopment is a symptom of that problem.

edited to correct heights
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instead of demolishing this building it would be great if they could renovate the existing structure and build on top of the existing structure using same materials and colors if it is feasible.