Here's a good explanation of FAR with diagrams:
https://www.shapeyourcityhalifax.ca/...ocuments/15253
Basically if the building takes up its entire site and all floors are equal, then it can be 7.5 stories high. If it takes up less area, then it can be taller (up to a point). In all likelihood, only the podium would use close to the maximum plot area, so it could be several stories taller.