The funny thing, is that the new sudden development downtown and surrounding area has only come from the last couple of years. So it's like being given this gift (the boom the city and province is experiencing) and wanting to make use of it as soon as possible like a little kid with birthday cash. Raising the minimum and allowable height is a great start. I have a feeling River Landing will be a true catalyst for development or better yet, the "Renaissance Centre that didn't fail" haha
CCF's point though about a handful of low-midrises downtown rather than one hugeass spire is a great one. Mind you, Dubai sucks their buildings out of the sand because they can lol so the scale is a little different but I know where you're coming from.
Regarding Stoon though, just work on infill and density for the time being. There appear to be a shitload of brownfields and empty lots/buildings that are prime for development. Keep the heritage properties though, those are a must to preserve history. Also, the vacency rate (I think) is already at a super low so start small and work your way up, litterally!
The VIA Station is funny just cause of where it is. I'd hate to be out there at 3am with nowhere to go. I think maybe as the city grows, relocation may be looked at perhaps with a tie-in to a lrt line. It just sort of reminds me of that ghost train that whizzes by throughout the night that no one sees