Unless something drastic has changed recently (ie: the past couple months which I doubt), Loblaws/Choice arent making any moves regarding the Lower Jarvis/Queens Quay location (ie: no redevelopment at the moment or in the imminent future). Even if there's some kind of zoning play that pops up, redevelopment wont happen for a VERY long time. Their pipeline is quite large, and unless they are shifting around priorities, the Queens Quay flagship wont be moving.
Now with regards to the Shoppers I dont get having one at this location, when there's one literally right up the street on Jarvis. It would've made more sense to locate one closer to Bay/Yonge but I guess there's the problem of where since there's real suitable space available.