No, because Toronto has far lower speed limits than most of the province. A suburban collector road like that is very, very typically designated for 50 basically anywhere else in the province.
A quick measure of that road width is 12.5m curb to curb, which is enough to paint it for 4-lanes with 3m central lanes and 3.2m outer lanes. Those are narrower than typical in Mississauga, but are standard lane widths for a 50km/h road in Toronto. A local collector in Toronto like that would also not be nearly 12.5m wide, likely more like 10-11m.
The reality is that the street, with the parked cars on both sides, effectively leaves about 7.5 metres of width for vehicles to actually travel. This means that each direction has at least 3.75 metres of lane width - equal in width to the lanes on 400-series highways. It's very comfortable to drive 50 on that street with the way it is designed.
Should it be a 40km/h street? maybe. But as it is right now, drivers would feel very comfortable doing 50-60km/h on it due to good sight lines and excessive lane widths. It is definitely not a "narrow" street designed to encourage low vehicle speeds.
The original point of the discussion was that slapping artificial lower limits doesn't do much, and that street is a perfect example of where slapping a 40 limit on it would make councillors look like they are "doing something", but where the road would still be very comfortably designed for vehicles to do far higher speeds. To reduce speeds on the street properly, they would have to narrow the roadway and introduce speed bumps.