Seems like there are more "community" newspapers floating around these days; the Bloor West Villager is among the oldest--appropriate, when you keep in mind that Bloor West Village is the world's first Business Improvement Area. The Villager isn't all that mom 'n' pop anymore, since it's run by Metroland Media Group, which is in turn owned by Torstar.
It's all local news, so the Villager's stories aren't likely to be super-exciting. On the other hand, it's still a good place to keep track of local issues that are important to residents (like, say, disputes over High Park redevelopment), and which you never hear about through bigger media outlets. And it's free, so you never get less than you're money's worth. read more