I am really excited about the Madison too. I anticipate it's completion much more than the proposals at the Y-E corners.
I am less sure about redeveloping Metro. A) My condo is overlooking Metro and it would be horrendous for me personally.
B) I'm sure that there needs to be a few supermarkets in the area by law, unless a ground level Metro is included like in the Madison C) I doubt Metro would sell and if they sold it, it would have to be for a heck of a lot, possibly deterring developers D) The neighborhood might not welcome highrises here, which is what developers would be looking to do considering how much they would have to invest. Plus the usual height/shadow issues. E) There are lots of areas nearby, from a car wash, a plaza at the intersection, and residential houses in all 4 directions that could bought and developed much easier and with less capital intensive risk than Metro.
I think Bayview is an area that can stay away from highrises and the intensification we are seeing at Yonge and Eglinton. A few midrises here and there to add some more density to the area and connecting the intersection with the retail would already make the intersection a much more vibrant place.
Great idea about re-purposing the houses. I don't think that is a bad idea in the place you linked. Redpath will be dense enough in the years to come and it is a nice quiet walk away from Yonge. I'm not sure how viable it would actually be though, it is a little detached from Yonge, plus given the area I would be surprised if someone hasn't already begun buying some of these houses up, and selling to a developer would be more profitable than leasing them out.
As for doing them on Bayview, the houses in question there are a little different from the neighborhood norm. A lot of these are detached rather than semi-detached houses and contain a driveway between each other. I worry it won't look as good, or as continuous with the existing retail, as we think. Maybe I worry for nothing though.