I heard the news that due to what happened in HK, many Hongers and companies have transfer their capitals to Canada and its over billion dollars and I bet most of this money would be landed in either Toronto and Vancouver. BMO probably seen this as an opportunity and expanding their investment department to cater these new comers.
The corner is supposed to have an office building - maybe the office market isn't good?
Plus there's supposed to be a Community Centre in that phase - maybe funding for that is pending?