It's a small site, but we should get at least 4 above-grade storeys on a main street in a major metropolitan city. Also, I'm generally not a fan of neutral-coloured facades for "background buildings" like this one. Beige and grey can be depressing in the winter when there are no colourful green leaves on the trees or vibrant gardens and seldom even a blue sky.
Sometimes, architects seem like they're operating in a country where it's green all year round, where grey pleasantly contrasts with the surrounding landscapes. That isn't Toronto for a good portion of the year. People want to go outside for walks and other activities in the winter and not encounter a depressing urban landscape.
Another factor is litter removal, which the city stops doing in many places in the winter altogether (even if there's no snow). It's sad seeing streets and parks filled with litter in the winter, especially as we get less and less snow.