I don't have a problem with wood frame being built at any size, I have a problem with them being sold as condos.
If an institutional landlord wants to tackle this and the city thinks the risk-reward-benefit equation works. Go for it, build a disposable building. At the end of it's useful life a vacant lot for redevelopment is an acceptable outcome for that corporate entity. A condo corporation governed by people with mortgages on units in the building can't really say "tear it down", they just go into a death spiral of rising fees and further deterioration. There is no happy ending or even okay ending for the individual owners.
Penhorwood is an extreme example but the end-game for a condo corporation isn't fun:
http://globalnews.ca/news/1562152/ow...rve-jail-time/