I knew I had seen this before, finally decided to go digging for it...

Here's the agreement between the City and Menkes to purchase the parkland from June 2018.

It says the closing date (i.e. the date the parkland is transferred to the City) is the earlier of:
a) Six (6) years from the issuance of the first above-grade Building Permit for any portion of the Vendor's lands;
b) Three (3) years from first occupancy or use for retail or office purposes of any portion of Block 1 as shown on the Draft Plan of Subdivision submitted by the Vendor to the City in support of City of Toronto Application No. 16 152754 STE SB, as may be revised from time to time, before registration of said plan against title to the Menkes Lands; or
c) December 31, 2028.
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I'm guessing (a) or (b) are coming up, and therefore it will be transferred to the City soon.

The agreement also states that Menkes has to conduct remediation and bring the park into "base park condition" before being transferred, which must be what they're working on now:

The City's obligation to complete the transaction of purchase and sale contemplated by this Agreement shall be conditional until Closing upon the City confirming, to the City's satisfaction, as determined in the City's sole and absolute discretion, the Vendor's obligations under the Parkland Agreement are satisfied, which includes being satisfied with the remediation plan for the Property and bringing the Property to base park condition.
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Block 1 I imagine is the LCBO building, and we are approaching 3 years:

urbantoronto.ca

Menkes' Sugar Wharf Welcomes LCBO Flagship While Towers Continue to Rise | UrbanToronto

The first phase of Menkes Developments' Sugar Wharf complex includes a virtually complete B+H Architects-designed office tower at 100 Queens Quay East — which has recently seen LCBO's flagship location move into its retail base — as well as two growing condos designed by architects—Alliance.
urbantoronto.ca urbantoronto.ca

The retail component opened February 2022.
 
The base park is taking shape today.

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Last week Nov 26
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From the UT database
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Oh, the placement of the towers will be back ended. I was wondering how they going to work the park details around the eventual excavation bits...but now I know: Park is south; buildings are north. The more I know... <3
 
UtakataNoAnnex said:
Oh, the placement of the towers will be back ended. I was wondering how they going to work the park details around the eventual excavation bits...but now I know: Park is south; buildings are north. The more I know... <3
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Except now there will be 3 towers directly lined up right on Downes St (the Harbour St extention), as opposed to the 1 tower rendered above.

So pretty much more density and shadowing fronting the park from the north end.
 
Amare said:
Except now there will be 3 towers directly lined up right on Downes St (the Harbour St extention), as opposed to the 1 tower rendered above.

So pretty much more density and shadowing fronting the park from the north end.
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I get the former, as I am aware they've rearranged the towers...but admittedly I was having difficulty picturing where the towers where going in relation to the park. The older render gave me a clearer picture what was going on here...although I should of realized this from the layout of the elder components. Silly me... >.<

Anywhoose, as for the latter...yeah, that will be a bit of an "oversight". Although one I suspect the developers are aware of, but they likely want to focus on enriching the profit line for this project here instead. /sigh
 
Amare said:
Except now there will be 3 towers directly lined up right on Downes St (the Harbour St extention), as opposed to the 1 tower rendered above.

So pretty much more density and shadowing fronting the park from the north end.
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It's a good thing the sun rarely extends shadow from the north in Toronto's specific geographic latitude. The towers gotta go somewhere.
 
Riseth said:
The bland leading the bland...

If these were built up by Vaughan Metropolitan Centre they would be fine but as prominent waterfront towers, these are simply trash. I wish someone else got their hands on this land instead of condo developers.
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Most towers there are more inspiring than this proposal. /sigh
 
Interesting that 2024 PFR budget has lower Yonge Park receiving $5 million in 2027. Maybe it will just remain in a base condition until then. I don't even see the project on the PFR project page with all the new parks.
 
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