If this were a design or architecture student's project, I'd say it was cute and well done.
But as a 'serious' proposal, it's an absolute dud...
Because of the location, particularly as a food desert, nearly every single unit will have a personal vehicle, possibly more than one.
The way this project 'incorporates' the heritage building is pretty amateurish as well. Could be forgiven on a student project, but...
In short, all I see is 500 units that would be better built in a proper urban location like WD, north edge or whyte.