hey dude, im also in toronto and recently got into fixed gear. which is a bit of a challenge since NONE of my friends are even into cycling.. so i;'ve been bike nerding a lot to research what to get etc etc.
firstly.. its a conversion, that usually means slack geometry (long wheelbase) and overall less than satisfying ride around the city, but could be ok for longer chilled journeys..
second, you are going to be getting smaller wheels. this effectively drops the bottom-bracket housing lower, and combined with a relaxed geometry frame (cruiser) could be a bit dangerous on a fixed gear. cornering could be tricky when ur forced to keep the pedals turning thru the apex on the lean.
do not hesitate to go thru craigslist. toronto local craigslist has some really nice folks and they have all helped me greatly thru my fixie build-up. the list has also posted a few wheelsets recently that you could jump on, as well as some roadbikes that are based on road/race geometry and naturally are setup with 700c wheelsets - this would give you a more enjoyable bike.. especially once you have been on the forum for a few weeks, and in looking at other ppls bikes, you continue upgrading the components on your own.
any questions, just post.