Sure, why not. One of Toronto's beautiful, historic landmarks has already been defaced with "The Luminous Veil", ruining one of the greatest urban experiences available (and NO, I am not in favour of suicide and do support suicide prevention - not by building barriers that act as deterrents  but by supporting mental health issues). 

In a gesture further guaranteed to totally obliterate the iconic value of this very important landmark and urban element, let's just load more crap on top of it. I definitely agree with the comments by tempsperdue - move it somewhere in the City where there is a need for this sort of housing, not over a public, natural park/ ravine. This is just stupid showboating by someone with a lot of time to waste promoting bad design + ideas.