Actually, in terms of seating capacity, Ryerson is planning to do exactly as you guessed. Scroll to the bottom of this link: http://www.ryersonrams.ca/ViewArticle.dbml?DB_LANG=C&DB_OEM_ID=22300&ATCLID=205584532
"The new 1,000 seat Coca-Cola Court will serve as the primary home court for...
Stepping away from the construction talk for a moment, we can officially start the countdown to the opening games. Ryerson's women's hockey team gets an amazing matchup against the U of T Varsity Blues on Oct. 5, while the men's team will face Queen's on Oct. 19.
Here are the full schedules...
I went by there today and spoke to construction crew - and they confirmed the 23rd is in fact the date. They sounded pretty confident it would happen, so I think we're safe to trust. As for the Ryerson athletic centre, the general consensus for the completion is around Februrary/March.