The industry that remains in the area makes it more difficult to build a lot of residential, but it'll probably happen as the area evolves. Currently, the planners want residential built at least 100 metres away from a polluting industry like a meatpacking plant or rubber factory (both of which are still represented in the area). The height of residential buildings is limited because of emissions plumes. Some of these plants may relocate in the short term future, making it easier to redevelop the big-box lands and other properties along this stretch of St. Clair.
As for this development, expect it to generate more streetcar ridership. It embraces the avenue. The area has the transit and a decent amount of pedestrian traffic (despite the low density) to allow this development to function less like a suburban mall and more like a main street.