I'd love to see it happen. There aren't many good lots for highrises on Sask Crescent, but this is one of them. With Nutana Collegiate right behind it, and the neighborhood already full of apartments, I don't think NIMBYs have a leg to stand on (though they'll make their usual noise, I'm sure). But you know, if I wanted to build a 20-story highrise, I might think about proposing something 30 stories tall. Then, when people complained, I could lop off the top and claim to have compromised!
In all seriousness though, I think it would be a good addition to a pretty dead part of Nutana. I think it's the perfect location for something like this.
That's fantastic news about the Knox Church tower, too!