Depending on what is going on.
If we're in the middle of a deal, I usually get up at 6:30 or so, hit the gym, get home and do my thing, and I'm in my office by 9 to 930.
If we aren't too busy, I can get up at 845 and get in by 1030 - 11
If you can swing a trip to Montreal, you could go to Samuelsohn directly and get some fairly decent stuff in your range.
It's a bit of a trip from Toronto, but you'll get a good suit in your price range. I was there recently and there is a decent selection available. Definitely some basic navy and charcoal.