Check out Giant Robot magazine for some cool art. They just had a show for the last magazine launch. It's basically an Asian VICE.
There's lots of cool art at the OCAD shows too. Go down to the school and go to the departments that interest you and ask to see slides. Or call in to make an appointment to look at slides of people's work. They have contact info and portfolios for everyone ready to be given out to anyone.
They have art on display but it's usually photos and the last time I was there (quite awhile ago) they had a bunch of black and white photos. They were overblown pretentious cliche's (daybreak photo of a lighthouse etc.) that cost $300 - $600 a piece. Call them and ask what they have now.
Some Toronto rapper (I think Choclair) hangs out there all the time so you can go and maybe experience a Canadian celebrity sighting. At the very least you can check out the enormous stuffed rhino head they have over the bar.