I was staying in Toronto for a conference and chose this as a low cost option.
Staff were friendly and efficient and the residence was clean throughout. Breakfast was functional - plentiful and canteen-style, feeling a bit like being back at school. The room was spacious with a private bathroom. A laundry is available for use in the basement. The location is good for downtown and the lake is about a mile walk away.
Many other guests appeared to be in parties of young people on school trips - all were polite and there were no specific issues, but it did feel a bit overwhelming at times e.g. when trying to use the lifts.
The decor was dated and the room and corridors felt very worn, with no plugs in the sink or bath and dripping taps. The bed had what seemed a very cheap mattress and there was a constant and loud hum in the room from some kind of vent. The AC worked but was very loud so I did not use it much. There was a fire alarm one night which required a full evacuation at 12:30am (from a 20+ story building) - and it took about an hour to get back in. Staff said it was probably someone smoking in a bedroom and didn’t seem too surprised.
So whether this suits you depends on your own preferences and needs. The feel is as much hostel as hotel - so it’s great for people on a budget. It’s safe, clean and comfortable enough, with friendly and helpful staff and a great location. But if you want a hotel-style stay and can afford it, you may be better going elsewhere.