Not so much of a demo reel but a portfolio of your work like drawings and any 3d work you have done you can put into a small reel.
If you dont get into Sheridan, look into the International academy of design, its where I went and is a bit cheaper then Sheridan.
Toronto is a pretty busy place.. you will have to get used to taking the sub way everywhere, I hated it =)
I am enough of an artist to draw freely upon my imagination, knowledge is limited, imagination encircles the world. (Albert Einstein)
https://www.artstation.com/kurtb