New office and transit complex coming to Toronto
REMI

New office and transit complex coming to T.O.

Thursday, October 9, 2014

Ivanhoé Cambridge and Metrolinx, the Province of Ontario’s regional transportation agency, announced an agreement that sets the stage for a new office and transit complex to be located in downtown Toronto. Project construction could begin as early as spring 2015 and is estimated to take three-plus years to erect.

The development will feature:

  • A 2.7 million ft2 (250,000 m2), multi-phased, premium office complex at 45-141 Bay Street built to LEED® Platinum standards;
  • A new, larger GO Bus Terminal with the latest features and amenities at the base of the planned 45 Bay Street office tower to reinforce Union Station’s transit-hub capabilities; and
  • An elevated park above the rail corridor with new public green spaces.

“We want this project to be iconic for Toronto through inspired design and intelligent integration of public transit with green spaces,” said Daniel Fournier, Chairman and Chief Executive Officer, Ivanhoé Cambridge. “By working with public authorities on finding smart transit solutions for downtown Toronto, we demonstrate how sustainable development can create value for the community and for our future tenants.

For his part, Metrolinx Chair Robert Prichard remarked: “We are pleased to be working with Ivanhoé Cambridge to build a new downtown Toronto Bus Terminal to bring bus and train services to a centralized location, allowing for improved transit options and an improved customer experience.”

Ivanhoé Cambridge is developing the 45/141 Bay Street project with Hines Canada Management ULC. Hines and Ivanhoé Cambridge have worked together before, and are currently collaborating on projects in Calgary (Eighth Avenue Place), Paris (DUO) and Chicago (River Point).

Following an international design competition, Ivanhoé Cambridge and Metrolinx selected UK-based Wilkinson Eyret to be the architect for the project. The architects of record are Adamson Associates, a Toronto-based firm known for numerous large-scale projects including the Petronas Towers in Kuala Lumpur, Canary Wharf in London and the World Financial Center in New York City.