The construction in the right hand corner is the Rotman School of Business expansion. That small section of land was bought out by U of T in the late 1960s, originally intended for an extension of Robart's library. This piece of land was also the former home of the Phi Kappa Sigma fraternity, now based further north at 163 St. George. Based on the vantage point of this picture, I would say it was taken from the top of Robart's library.