I think the problem that a lot of us are having does not have to do with a tower being built on this site (there was always a plan for a 3rd tower to built on this site until the early 90s recession), but more to do with the scrap heap being proposed.
If the design actually looked half decent, most of us wouldnt have an issue here. It's the fact that Brookfield is going for bottom dweller garbage that's raising alarms.
The 90s recession saw many buildings cancelled in Toronto. Here’s a list of some. (Not in order)
1. World Trade Centre, a proposed condo and office complex. Two condo towers, three office towers. The two condo towers were built in 1990. Thus the name “Residences of the World Trade Centre”, however, the office portion was never built. The land of which the offices would have been built now sits Pinnacle Centre. A 4 tower complex completed in the 2000s and 2010s.
2. Bay Adelaide Centre, originally proposed sometime in the 80s, had a much different design than the current and final design. It had a pointy rooftop postmodern type design. The original design was obviously never built, and had many design changes until finally it was completed in the 2000s/2010s with a much different design.
3. Pier 27, Avro Group, the developer of 25 The Esplanade, King’s Landing, and several other buildings in the St. Lawrence neighbourhood, also had plans in the late 80s to build on the site where the current Pier 27 condos sit. Probably cancelled due to the 90s recession? Proposed around that time.
4. Simcoe Place’s second tower, there were plans to build another twin tower of Simcoe Place.
5. Empress & Yonge, a two tower office complex, never built.
Some of these are not 100% confirmed to be cancelled due to the 90s recession. Just happened to be proposed right before. And assuming they were cancelled due to it.