I usually stay at Clarence Castle, which is a beautiful, spotless (and incredibly affordable) place. It has both dorms and single rooms and is right downtown near everything. It's not so near the concert, though, which from what I see is on the water; however, the TTC goes everywhere.

It's very hard to believe that at one point I hated Toronto. What I really hate is driving in Toronto, so I don't do it anymore. The city itself gets more awesome every time I go.