only recently. In many months before that, it had been extremely slow, weeks without any action.
Victoria street has quite some projects this year. This, Yonge/Rich, St Mikes, 88 Scott (a continuation of Victoria), Massey (its back facing Victoria).
Hard to tell from the renderings how it will turn out, the design at least seems to echo the heritage building but it depends on the quality of finishes I suppose. The building might help with the enclosed urban room concept that was intended by the designers of the square.