My room was located right opposite the (doorless) kitchen, where more sociable and obviously friendly guests were chatting until about midnight, and I could hear them the whole time while I was trying to get to sleep early. This might be an issue for older guests, or those who tend to go to bed early.
I also did not like the house rule of having to take my shoes off at the front door, and although slippers were provided, I was a little put off by having to use footwear that others had been using. Perhaps you want to bring your own.
The staff was very friendly when checking me in, although you have to make strict arrangements prior to arrival, because there is no permanent staff presence. From then on you have a key and get in whenever you like.
The location on College Street is great: close to the great Art Gallery of Ontario, the hipster quarter Kensington, the Asian quarter with its many eateries, and the U of T campus. Public transport, including the subway, street cars, and buses, is also conveniently nearby.
I can imagine that the fully equipped kitchen, which guests can use freely, will be appreciated by those who want to save some money by cooking their own breakfast or dinner.
I read some complains about the stability of the provided Wi-Fi, but I did not find it too bad.