In a spot where the City only wants 12 storeys or so? I suppose if it's pretty beefy.

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Perhaps it's a longer play to get more density once a transit station avails itself?

If we went full beef, it would be 12x 30448 = 365367 GFA to play with, if you used the whole site as a massive block, that would bring it to $157/sq ft GFA. Probably not approvable.
At 8x density, the rate would be $238 which seems a bit high but I could see rates being that high in this location for land purchases. I wonder what Greenland paid on a rate per buildable to the North?
 
Noticed this weekend that Greenland have got a few A-frame signs out for Lakeside - they may actually be starting to market it more aggressively.
 

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