Honest Ed's is certainly iconic, it is a place you show friends visiting, I myself go once MAYBE twice a year for say the last 10 years... but I don't personally know many people that actually shop there, and I don't say that because I am upper class and too good to shop there... I am far from that. I have no shame shopping dollar stores, but the stuff in that place looks like it has been there since the late 80's and its a crazy unnerving maze.
Its a place you take friends to prove how crazy it is, no one buys anything, agrees its crazy and doesn't go back until they want to prove to someone else how ridiculous it is.
I guess maybe if I was of a different generation I'd feel differently perhaps. Part of me will be sad when it goes. I truly hope they find a use for the exterior signs, but the proposed retail looks a lot more exciting. From the renders it has the charm of outdoor bohemian/ asian markets. Something Toronto is really lacking but that I suspect will be very successful.