Well, since we last updated this thread the financial crisis happened, the Torode realty empire as it existed then, including the Arriva project, was dismantled. See the stories posted elsewhere:
http://calgaryheritage.org/CHIForum/viewto ... =2023#2023
The balance of the Arriva site is now the Guardian, under a new developer: http://theguardiancalgary.com/
The Victoria Bungalow school will not be wrapped in artwork (as Torode had proposed - see above), but by the end of March is reportedly opening as the new sales centre for the Guardian project (existing sales centre is in the base of Arriva, but that's supposedly temporary).
http://www.calgaryherald.com/business/r ... story.html