It appears work may begin soon on this property. Concrete barriers and construction trailers appeared on the site within the last week or so. That said, as of today the convenience store/pizzeria that is the last business in the current strip mall still seems to be open and operating.
This rezoning and development agreement was approved at community council a year ago. There's to be something like 59 residential units, 30% of them with two bedrooms. While it was supported by council and the few who presented at the public hearing there was apparently some grumbling about the uninspired design and the lack of any clear plan for occupancy of the ground-level commercial space. There was some desire expressed for outdoor interaction with the street, such as patio space, and for protection of the mature trees on and adjacent to the property, but the developer (Fares) is under no obligation.
In any case, there's no doubt this will be an improvement to this block of Caledonia Road.