wood is a surprisingly good insulator, it just works differently than concrete by "absorbing" the noise as it's a soft material compared to "bouncing" the noise in a concrete building.
I lived in a concrete building without concrete separators between adjacent units and basically never heard my neighbours. My more limited experience with wood apartment blocks isn't all that different.
The province made a big hullabaloo when they increased the wood construction limit to 6 storeys, but few buildings have actually been built to that height yet. The most buildings I've seen take advantage of it is actually suburban hotels! The Sandman Hotel in Stoney Creek was actually the first 6-storey wood structure in Ontario.
The reality is that most urban mid-rise construction is simply too complex for wood and usually exceeds the height to an at least technical 7-storeys in order to provide rooftop access, as well as other structural complications resulting from required setbacks, etc.
The US has "5+1s" buildings a dime-a-dozen all over the country, which are generally 4-7 storey apartment buildings with a ground floor made of concrete construction and 3-6 storeys of wood apartment units constructed above, often wrapped around a central concrete structured parking garage. These have proven affordable to construct and usually have fairly large floorplates, but for whatever reason haven't really made it north of the border.
Wood can be a lot faster. Ellis Don opened it's now quite successful (I've noticed they are constantly hiring) pre-fab plant in Stoney Creek that has been pumping out pre-fabbed wood construction modules for about 2 years now that are getting used to build things like supportive housing in Toronto.
5+1s have lead to a complete boom in apartment construction in the US as it's so cheap to build them. Basically every US city has them. When this project was first approved it immediately reminded me of them. I'm really surprised there hasn't been a push to bring them here as they are apparently quite efficient. I don't think our building code is really supportive of them which makes them impractical to build here.
oh wow, I had no idea that god-awful condo was that handsome office block in a previous life. What a shame.
Fun fact, the original office block was designed by Stanley Roscoe, the architect of Hamilton City Hall. You can really see the similarities to City Hall in TheHonestMaple's photo above, and this one as well...
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