If that building to the left was the TD bank, then we'd be looking southeast at the Yonge-Sheppard intersection, from the Dempsey Brothers store.
The "zone 1 limit" sign (and the no stopping/parking sign) might give a clue to the time the picture was taken.
Yeap,... 11th is right on. The black and white image is looking southeast at the Yonge-Sheppard intersection from under the protective overhang canopy of Dempsey Brother store in summer of 1955! EdwardSkira gets credit for recognizing the Dempsey Store overhang
http://www.thestar.com/news/insight/2013/11/24/when_willowdale_was_a_toronto_suburb.html
Almost from same vantage point that MafaldaBoy (JimmyWu) just took almost 60 years later.
My attempt at getting that same vantage point is attached,... as you can see, everything has changed,... well, at least the bus stop is still there!
That old Joseph Christie Bales’ farmhouse from the 1955 photo is basically where the new GUU will be on north side of Avondale in HullmarkCentre. The main Bales’ barn and house was a bit south at present northeast quadrant of Yonge-401 interchange near Avondale condominiums.
Also attached is old 1934 photo of Sheppard looking east from Yonge and 1968 image of Willowdale Plaza (different vantage point from Yonge & Poyntz looking northeast) which existed at this same southeast corner of Yonge & Sheppard from 1957 to Aug 2010 when it was demolished for Tridel HullmarkCentre. Yes, that's a Steinberg's supermarket,... originally a GrandUnion from NewJersey (sold to Tops), Canadian was brought by Steinberg's, then renamed Miracle, then Dominion, then Metro,... I don't think it was ever an A&P or IGA here.