The building across the street is six or seven storeys, if memory serves. I'm surprised they aren't trying for a little more here.
Proposal for a 3-storey mixed-use building containing 17 rental residential dwelling units. The proposed residential gross floor area is 990.52 square metres, and the proposed non-residential gross floor area is 186.85 square metres. See 02-035102 SHY 18 SA for reference
Guess this will rack up as another case of good that it's affordable housing, but why so little? They could've gone for double the height and units.