I'm potentially interested, although I live in Summitville (aka Regina ). However, I do get to Toronto a couple of times a year.
I think the real issue is whether you can get enough people together to make the diversity we would likely want fit the economies of scale that we would resultantly need. For example, I use Ilford products (film and paper, and some chemistry), Photographer's Formulary products (TF4 fixer and glycin, plus a few other bulk chemical ingredients, especially now that JD Photochem is shutting down), Foma films (primarily in Arista clothing), Kodak films (Ektar and some black-and-white) and chemicals (Photo-Flo, HC-110), and Fuji films (Velvia and Superia). That's just me - and that's a huge variety. Granted, even if the coop only handled, say, Ilford it might still be worth my while to participate.
It surprises me that Toronto can't support a healthy darkroom section, but I have seen Henry's darkroom section recently so I know you guys are telling it like it is.