Toronto needs to build more housing, period. It doesn't need to be "smart", it doesn't need to be "iconic", there just needs to be a lot of it and it needs to be close to amenities and jobs. As far as I can tell, the reason this is so difficult is a combination of powerful people making boatloads of money off the restricted supply, and inertia in favour of the low-density zoning that covers most of the city.