I can't imagine that the intersection of this new connector to Mountain Road wouldn't be signalized.
1) - as you pointed out, this could be an important new escape route from the Northwest Centre, decreasing the pressure on the current signalized exit across from Plaza Blvd.
2) - this will likely become the main access route to the NBCC campus for college students (it leads right to the main parking lot behind the campus).
3) - it will vastly improve accessibility to the Mountain Road shopping area from Pinehurst.
4) - traffic will generally increase because of the development of the Shannex campus, and from the new residential areas to be constructed.
What will be interesting to see is if the city and the developers plan on building new apartment buildings in behind here, in addition to SFHs. My gut feeling is yes. Looking at this initial street plan, there seems to be abundant space between the proposed ROW and adjacent built construction to allow for a footprint large enough for multiple apartment buildings. I suspect it will end up looking like what is proposed for the Village at Twin Oaks development currently under construction.