I'm no fan of the residential tower, but I think the office building has been vastly underrated. It's not particularly flashy or exciting, but the brick is understated and elegant, the massing is interesting (I like the terraces and the gap between the halves of the tower), and it seems to be quite functional at street level, especially with the patios facing the new park. Can't speak to the carbuncle, though.
 
Is the condo under construction, the office building, or both?

They are currently excavating the site for the office building. The warehouse building to the north must first be demolished before work can proceed on the condo.
 
Yesterday afternoon:
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The Loblaws offers a nice point of view on the site:
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Curious, can anyone tell me what is the purpose of those steel cables that the machine four pics above is inserting in to the retaining walls?
 
Curious, can anyone tell me what is the purpose of those steel cables that the machine four pics above is inserting in to the retaining walls?
They are "tie-ins" and anchor the pilings to bed-rock (or something stable!) so the temporary wall does not collapse.
 
September 25:

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If you want a further glimpse into the architectural identity crisis that is this project, take a look at the sales centre on Queens Quay. ;)
 

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