We've known for a long time that the former "Medical Building" at 340 McLeod (near Bank) would likely be demolished for Phase 3 of the Central condos at Bank and McLeod (Phase 1 is currently under construction, with the Metropolitan Bible Church façade). This was recently confirmed at City Hall, where the rezoning application was approved with adjustments made based on CCCA feedback.
Most people see the building from Bank Street (like at Tommy & Lefebvre), but here's another view looking across the block from Argyle, here in late May...
And again just this past weekend, where they have begun demolition. While 340 McLeod goes down for Central Phase 3, Central Phase 1 is well on its way up behind it.
I haven't been by there since the weekend so I don't know how far along the progress is on demolition. If you know, please leave a comment.