I briefly lived in the area (on Jones between Queen and Dundas) and I disagree that a car is needed here and the transit here is poor. There is never traffic on Jones so the 83 to the Line 2 subway is pretty quick and reliable. It runs at least every 20 minuets. Both 501 and 503 run there, and while they can be slow, the frequency is good. There is almost continuous bike lanes from this site to central downtown via up Jones, then West on Dundas/Gerrard/College. It's only a 20 ish minutes ride that is mostly flat. Other cycling options are mentioned above in the thread. There is a Loblaws, FreshCo, Farm Boy, LCBO, Canadian Tire all walking distance (essentially across the street), so you don't have to drive for shopping at all.
Actually the Greenwood bus also stops outside this proposal, so there is at least six buses per hour going up north to Line 2.