tworivers,
The project is "Cook Street Apartments" by LRS Architects. It spans the entire block between Williams and Vancouver, and between Ivy and Cook Street. One block south of New Seasons, effectively "sharing" the same two-block super block. It's been going up fairly fast.
http://www.lrsarchitects.com/market-sectors/housing/cook-street-apartments/
Regarding One North, I'm in the neighborhood and very much looking forward to the project. At least within my circle of friends and family, everyone seems excited about the vibrant new developments on Williams, though I can certainly understand being the unfortunate Nimbyan who lives next door and is more directly impacted by it than me. :|