So based on the press release, all three towers will be in the 80-85 storey range. My best guess would be the middle tower hitting 85 stories while other ones are both 80 stories. Considering usual floor heights and planned podium design the 80 storey towers will both come in around 920 ft (280m) while the larger 85 storey tower will hit 975 ft (297m), just being a tad short of a "supertall" buildings. Each of these iconic towers will be around the same height as the Scotia Bank building as well as the BMO building which truly will change Toronto's skyline. Regardless, all three look to be taller than Aura which is currently Canada's tallest condo building.
I do however have some doubts as to whether this project actually happens for a few key reasons including: the condo market is cooling in Toronto and demand is not what it used to be, there are already thousands of unsold units on the market competing for a piece of the pie, the financing factor has gotten more strict with max 25 year amortization announced earlier in the summer, and prices. Something tells me the builders will want big money for these units, which will be hard to get for the reasons mentioned above. IF this plan does go through it will be because of highly competitive pricing which remains to be seen at this point. Finally, my last concern has to do with city council. This plan is much taller than restrictions for this area and should come up under plenty of citizen boycotts because of the closure of the theater. I wouldn't be surprised if the city turned down the project or drastically altered it so it would no longer be legendary. If they start being unreasonable or demand the towers to shrink down in the 50-60 storey range, then this project won't be justified in my opinion.
Time will certainly tell, but providing the best scenario, I am still thinking a project of this caliber will take minimum 6-8 years to complete.