I would think there is a privacy issue with how the pool is oriented with relation to the park. Since it is a public park, there are going to be "undesirables" hanging around there every once in a while. If they have a clear view of the pool, then all of those scantily clad women (or men) are fair game for gawking. There ARE perverts out there that I'm sure would take advantage. If anything, the pool should have been elevated a floor or two on a tiered section so that the park was still in full view but the pool would be out of view of the public. Of course, that just adds to the cost.
I think the aspect I'm most concerned about is how the retail/restaurant space will be oriented in relation to the park. I would hope that patio seating would have full, or at least partial views of the park and lend to the overall activity level. It should be one of the main design concerns in this project. In the end, it's all how the buildings interact with the street.