As far as am aware lyric is a rental. EV 606 was originally condos, got zero traction so had to pivot to rentals also. Selling units now would be tough in EV. Nice part of the city but has alot of issues to resolve.

Under CMHC financing rules, you can not demo an existing building without all permits and funding in place. This being a rental the developer will have to wait for financing before they demo.