It is surprising that there isn't already a McD's in this area along College (There is one in the Village by the Grange and up on Bloor), so it should do well.
Here are photos from when I passed by tonight. There is a workout space on the 2nd floor with elliptical machines. One the other side of the 2nd floor, there looks to be old arcade games set up for residents to use.
Pretty smart location for McCafe, what with the Starbucks closing down a block away at StGeorge & Beverley. Surprised Starbucks didn't try to relocate here themselves. This is also kitty corner to the new student centre they're putting into the old architecture building, so no doubt they will do well.