They are on their third name for this project and even the banners on the signage are confused, although "The Canal" seems to have gone down the drain. The pic from above shows the conflict:
At this point it would not surprise me if they pivot to yet another moniker by the time it is closer to being finished. As long as they don't call it "Austin Arms" I am indifferent (though hopefully the "On the Pond" nomenclature is deep-sixed).
On that point: I have an odd connection to that term being of a certain age with a certain background. Back around 1971, I attended the now-departed St. Pat's High School on Quinpool where the vice-principal was a fellow approaching retirement named Chris Grant, who had a fearsome reputation and was a bit erratic in his personality, sometimes OK, sometimes angry or at least pretending to be so. Legend had it that he had a leather strap of about 18" in length in his desk drawer that he would use to punish male miscreants who violated certain rules of behavior. Most students tended to give him a wide berth both because of that and because he didn't come across as a warm fellow, though I suspect that wasn't totally accurate. His favorite way of firing a warning shot across the bow of a class was to announce "The ducks are on the pond, boys!" which translated to "stop whatever you're doing or face the consequences".
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Having grown up in the area, we used to pronounce it phonetically as a joke, just to be silly, I suppose, because surely nobody would ever say that way in seriousness. 
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