Are you referring to the section that curves and connects through to Yonge and forms the current Lake Shore Blvd E?

If so, yes the curve will be removed eventually and Harbour will be straightened to up and punch through to the new Downes St extension. Lake Shore Blvd E will also be straightened out as well. Good for pedestrians, but I can already see this being a traffic disaster.




Here's the 2023 plan from Waterfront Toronto, although you'll see there's westbound lanes of Lake Shore Blvd E on the east side of Yonge, ignore that because that's not happening. There's no space for that under the Gardiner so I dont know why it's even plotted out to begin with.
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Do we know what the street address of Phase 2 will be?
 
Here are various photos I took yesterday of Pinnacle One Yonge from my usual vantage points; based on the updated elevation drawings, the crane jib appears to be over 300m now:
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