It can't compete with Schulich or Rotman, both of which show up in all the big MBA rankings all the time.
Maybe if you're considering Ryerson it might be an alternative, in that it's similarly-priced and has a (relatively) comparable cohort quality. However, you're right, it's not right in Toronto - and in fact, I believe that its distance from the city is a big disadvantage. Think about it, if you want to network, you're going to want to do it in Toronto, and it's going to be hard to spend all that time in a car or on a train to go to meetings, etc.
It can't compete with Schulich or Rotman, both of which show up in all the big MBA rankings all the time.
Maybe if you're considering Ryerson it might be an alternative, in that it's similarly-priced and has a (relatively) comparable cohort quality. However, you're right, it's not right in Toronto - and in fact, I believe that its distance from the city is a big disadvantage. Think about it, if you want to network, you're going to want to do it in Toronto, and it's going to be hard to spend all that time in a car or on a train to go to meetings, etc.