I and others have mentioned the Gorsebrook location. I think it would be a very advantageous location for all the reasons that others have stated. It might be of interest to SMU also. They don't have much room on campus for expansion, so if a stadium were built at Gorsebrook by Lundy's Lane then they would have a stadium close by and they could use the current SMU football field for campus expansion. Here is a link to that location -
http://maps.google.ca/maps?q=halifax...h&z=18&vpsrc=6
An urban location is actually very good for quick exit after a game since there is more road infrastructure to handle the crowds, as someone123 pointed out. I noticed this at the Toronto Rogers Centre and Hamilton's Ivor Wynne Stadium - getting out of many smaller, spread-out parking areas is much easier than the traffic bottleneck that results from having thousands of cars in a couple of large parking lots.
The city already owns most of that land since I believe it is part of the Inglis Street Public School and Gorsebrook Jr. High School. I wonder if any of the homes along Inglis Street next to the public school are residences for students of SMU? If they are then it would be easier to build a stadium there.
It is too bad that urban locations are being ruled out based on the assumption that there would be traffic issues. I have found that it is just the opposite, isolated suburban locations such as Orchard Park outside Buffalo, NY can be more of a traffic nightmare with thousands of cars trying to exit on a few suburban streets.