Interesting to see that a swath of parking preceded Cumberland Terrace--indeed, it would seem that the S side of Cumberland was virtually all parking from Yonge all the way t/w Avenue Rd.
Would this have related to B-D subway construction? Judging from the existence of the buildings SW corner Bay-Yorkville (now replaced by Minto) and Yonge-Belmont, this would seem like an early-mid-60s sort of photo (and is that construction/excavation E of Yonge, btw/Britnells and Royal Bank?)