I did my undergrad at Western and I did a lot of apartment hunting. Luxe is definitely pricey and I never really bothered at looking at it for that reason. There are apartments close to Richmond Gates that would be worth looking at if being close to campus is a concern. If I were you, I would also look at the different options available and also at some of the rentals available on the off-campus housing website, London has no shortage of student housing and I rented a really nice mainfloor apartment in my last year for under $600 per room.
I spent a lot of time at a friend's place at Masonville Gardens and the apartment itself was fine, but I know they had some bad experiences with maintenance (their shower wasn't fixed for a week once).
Luxe is definitely one of the more expensive places you can get that has less bang for your buck. You're looking at around $1k/mo with a roommate (each). It has some nice amenities, but it's not worth the price according to friends who have lived there. For that price, you could get a 1 bedroom apartment at one of the buildings next to it.