I walk by that apartment building regularly. It’s a beauty. It also needs work. At some point the math doesn’t work to keep very old buildings as low cost residential rentals. It might be worth it converted to commercial, given the location. It’s also a very good spot for a higher density building, location wise. The houses around the apartment building are nothing special and in various stages of falling apart. No loss there.
The old apartment building IS significantly grander and more interesting than half the buildings I see touted as heritage. Mixed feelings on this one.