I know it's just speculation right now but something like Maple Leaf Square feels like it could be possible here (Office / retail in podium w hotel and residential uses above)
 
Let's build Calatrava's 600 metre "Spire" here... would look perfect in waterfront skyline shots (and most of the drawings are in a drawer some where).

🙃

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Link
 
And a re-evaluation of the project will likely seek to go higher.

Both condos and private rentals are on life support and that's not stopping proposals from being revised taller. At some point, the faithful will turn on approved developments from ever being built. Does it matter if they tack on more height here?
 
What's the history behind it being "Harbor" on the building? I can't seem to find too much on when Canada fully committed to British Spelling outside of newspapers in the 1990s...
If you look at 19th century publications and legislation, the spelling varied between both forms (often in the same document). The 1850 Act establishing the Harbour Commission had the "u'" version but the non-u one was often used subsequently.

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Anyone know what that excavation is for? New landscaping only? Underground parking? New access point to basement?

I do know that Harbour 60 is doing lots of renos inside going from a 1 floor to a 4 floor restaurant.

 
Anyone know what that excavation is for? New landscaping only? Underground parking? New access point to basement?

I do know that Harbour 60 is doing lots of renos inside going from a 1 floor to a 4 floor restaurant.

Most likely to me would be dealing with waterproofing issues - the foundations are probably below the water table.

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