Fun pic of Simcoe Place. I'd say that was taken in autumn 1993 or maybe spring 1994 (as the trees are just starting to bud).

For those interested in the recent history of our City, especially real estate, it's worth reading Mary Gooderham's A Building Goes Up: The Making of a Skyscraper , which originally appeared as a series of columns in the Globe, but was then compiled into a book. For folks who have grown up in the current climate of unending construction, remember that this was the only office tower to go up in the mid-90s and one of the only significant buildings at all to go up around that time.

I recall this series. I was very young and each morning my dad would sit and read the Globe and I would practice my violin right in his ear. (Toronto houses are small, what...)
Anyway, this series in the Globe helped get me interested in Toronto buildings, and as ProjectEnd noted, it was one of the only towers going up at the time.

Anyway, the 90s are clearly forgotten based on the Toronto of today's much larger feel, and now I feel old. :)
Regarding the cornice, there's very little about it in the Heritage Assessment Report that was filed with the ZBA application. The only text in its regard is here (added emphasis is mine):

156 Front Street W is a six storey industrial building adjacent to the rail lands north of Front between Simcoe and John streets dating from 1905. The building is bounded by 144-146 Front Street to the east and a vacant parking lot to the west.
The red brick building’s façade contains piers with inset fenestration, and a detailed undulating cornice at its roofline. The structure is more subdued than its neighbour, lacking the arches, accentuated lintels and rusticated base of 144-146 Front Street, although they are versions of the same type.​

Photographs in the document don't really help. There is this drawing that's reproduced from the architectural plans, however:


Based on the brickwork at the top, I just knew there was once some sort of cornice to finish things off. Thanks, 42!
Not to be too picky, I suggest that the 'decorative brickwork' on the top as seen in the photos above MIGHT be considered a cornice. The plans reproduced above seem to be cut off right at that point so are not much help. For a definitive answer someone probably needs to go to the Archives and look at the originals. That said, I doubt any more cornice will ever be added (or replaced).
I walked by today and a ton of workers are on the street. Looks like they are striking, lots of "Fair deal" signs