I feel like the most likely site (not necessarily the best) would be the around the Young/Robie intersection. Lots of empty lots and underdeveloped areas along with fewer affluent NIMBY neighbours than anywhere further south. Could be a very well developed area with improved transit downtown.
The entire VG site is going to be interesting in approx 10 years or whenever it is demolished. No better location but a lot of neighbours with competing interests and a former "institutional" use.
I think my preference would be Cogswell - could be a postcard worthy landmark on par with Purdy's. Of course, I have no idea what the actual economics of these situations would be