Here is a picture of the plans. I took this picture of a display and one of the consultations. You can see trees along the front of the building where the holes are being dug.

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Courtesy of skycandy

Maybe the point of that twisted metal is to produce the most embarrassing piece of junk possible and see how many Torontonians will accept it as art. He/she is giving us the finger yet no calls for its removal have surfaced yet. Embarrassing.
 
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They were doing soil sampling in the sales centre's parking lot last week, and surveyors have been roaming around the site. Perhaps they are gearing up for construction of the final phase? Last I heard (pre-COVID) Cityzen had severed the land for the last phase with the intention of selling it so that it could be developed by a different developer, so perhaps it was sold (or perhaps Cityzen just decided to develop the site itself after all).
 
Former site of Captain John's. Tower at Pier 27 condominium community at the foot of Yonge Street today, where in the foreground Captain John's floating seafood restaurant moored until it was hauled off for scrap in 2015.

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