Work has officially begun on CIBC Square, an office development expected to boast the largest floor plates in downtown Toronto once it’s completed.
Formally known as Bay Park Centre, the Ivanhoé Cambridge and Hines venture will rise to 2.9 million square feet, as one of the last office projects with a Bay Street address in the business district.
The development will feature two office buildings (49 and 50 floors), and a one-acre elevated park over the railway, connecting the two properties at the fourth floor level. The programming of the park has been developed in co-ordination with Biederman Redevelopment Ventures, which operates and curates the activities of New York City’s Bryant Park.
Office and collaborative spaces will offer expansive views of Lake Ontario and Toronto’s skyline. The 81 Bay Street building is scheduled to be completed in 2020. The second building, at 141 Bay Street, and the elevated park over the railway will be completed in 2023.
“CIBC Square will be a remarkable addition to Toronto’s skyline and a significant contributor to its thriving economy,” said Daniel Fournier, chairman and chief executive officer of Ivanhoé Cambridge.” We are delighted to make a significant and sustainable impact to the development of Canada’s largest city, with an elegant, modern and efficient project.”
Additional amenities will include modern fitness and bicycle-parking facilities with showers exclusive to tenants, an international style eatery offering a selection of nutritious and healthy food options, and a variety of other restaurant options, including a white-tablecloth restaurant, a casual restaurant, and a café. There will also be interior VIP parking and limo/taxi pick-up and drop-off facilities for building occupants and their clients.
WilkinsonEyre and Adamson Associates designed CIBC Square to attain LEED Platinum Core & Shell certification, WELL Certification and WiredScore Platinum accreditation.
“With this project, we are contributing vibrant, technically and socially advanced architecture befitting the city for decades to come,” added Hines Canada CEO Kevin Shannahan.