I wish if the announcement included plans to install a taller spire on the top of the CN Tower.

At its current height, it's the ninth tallest freestanding structure in the world.
And I wish the announcement included plans to hack up the atrocious pavilion at ground level and start over completely from scratch because it's horrendous.
 
Looks like that staging area they fenced off isn't for FlyOver, but for the Terrace level renos instead. They're prepping to lift some bulky metal structures up to the observation level.

The lungs in the last picture are probably unrelated.

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Unless they add more hardware, it looks like they have 3 cables running to one bar, from which there are two connections to what they are lifting. Hopefully, each one of those cables alone is capable of supporting all the weight.

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Yes but from 500 meters up that could be bad.
There are lots of cranes atop buildings at or above 250 metres in the City that lift objects with a cable. There's practically no difference in terminal velocity between 250 and 450 metres if an object falls. I imagine the area underneath the CN Tower will be cordoned off during the lift. It's a non-issue
 

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