An article from the KW Record on Wednesday November 9 –
Former Electrohome site up for sale in January

The formal process is now set in motion for the building to go up for sale in January 2017.
The nieghbourhood has dreamed about this building for years, but it seems there are some serious hurdles to making something viable on the site. It might take someone with pretty deep pockets.
Ted Parkinson has written several blog post updates about this building over the years, as early as 2013. You can find them here (#1), here (#2) and here.