CityPlace has gotten much better as retail has improved in the last year or so. A new Ramen place just opened up, as well as Bubble Tea place, a decent barber shop, a marijuana dispensary, a coffee shop, etc. More restaurants and retail places are coming as well now that most of the major construction is completing and the bottom floor retail spots are for rent.
Otherwise it's great for having a gym/pool/parking in your building which was the main draw for living there. But I'm not under any illusion it's a great cultural neighbourhood in itself. But regardless it's a 2min bike ride to King St W, 2 more to Queen St W, not far from Trinity, next to Spadina streetcar line, and Queens Quay waterfront. Walking distance to 75% of downtown tech companies.
Plus it's right off the highway making it easy to visit family in the country.
City place has many benefits and has improved, but it is what it is.
Renting a floor of a half renovated Victorian house or above a store on a main street has plenty of it's own downsides as well. Not to mention having to use a dirty packed Goodlife gym or public pool.