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Retrofitting the Hearn for an event space/museum/gallery a la the Tate Modern would definitely qualify as a "Landmark Institution", though the price tag to remediate and make it safe would be eye-watering (worth every penny, though).

I'm dreading it being turned into a Shoppers or Loblaws.
 
Retrofitting the Hearn for an event space/museum/gallery a la the Tate Modern would definitely qualify as a "Landmark Institution", though the price tag to remediate and make it safe would be eye-watering (worth every penny, though).
What is the future of Cirque du Soleil here?? Could be a good destination site for them.
 
The Waterfront Toronto Strategic Plan 2020/21–2024/25 talks of 4 key future projects along the waterfront - I believe all are unfunded at this point.

The projects are Waterfront Walk (more wave decks, wooden boardwalk etc), the Jack Layton Ferry Terminal (you know, the proposed wooden swoopy one), Destination Playground (a giant playground in the new Promontory Park in the Port Lands) and Landmark Institution.

The document describes Landmark Institution as "a distinctive structure to anchor and animate the surrounding public realm", and shows pictures of a variety of performing arts/opera houses as an example. "We’re now assessing the potential for a major institutional or cultural site that would draw up to a million visitors a year to the waterfront."

I do wonder if Quayside is the site they're thinking of...
Realistically this would mean giving away a large chunk of real estate for free to a museum/gallery/opera house thing, thereby reducing the affordable housing that Quayside could conceivably deliver. On the other hand, I do agree that a major attraction encouraging people to travel through the East Bayfront towards the Portlands would be great for the area, and probably spur the development of transit, too.

10 years ago or so, I would have suggested a University campus on the site, but the George Brown/OCAD/UOF mini campus(es) seems to be doing quite well!
What is the future of Cirque du Soleil here?? Could be a good destination site for them.
The Hearn was supposedly sold off-site to some film production company called 'studios of America'. God knows if that's true. I hope it isn't — Cirque Du Soleil/An avant garde exhibition studio/cultural institution like the Tate in London would fit well here.
 
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