CIBC Square, a transformative project by Ivanhoé Cambridge and Hines, has officially broken ground. Formerly known as Bay Park Centre, CIBC Square will feature two buildings and a one-acre elevated park over the rail corridor.
Designed by architecture firms WilkinsonEyre and Adamson Associates, following an architectural design competition, the project is founded on architectural and structural excellence, exceeding mechanical, electrical and security expectations, which have been designed to attain LEED Platinum Core & Shell certification, WELL Certification and WiredScore Platinum accreditation.
“CIBC Square is a visionary example of what government can achieve in partnership with the private sector – commuters can enjoy a walk in the park and take in the best views of the city for a more enjoyable, comfortable transit experience,” said Steven Del Duca, Ontario Minister of Transportation. “The new Union Station Bus Terminal will be integrated with our largest transit hub for a seamless commute as we continue to invest in building up our transportation network and innovative projects – like high speed rail and GO RER,”
CIBC Square is the result of a joint effort between global real estate leaders Ivanhoé Cambridge and Hines, and one of the last office development with a Bay Street address in Toronto’s business district. It not only completes the Union Station campus master plan by delivering a world-class bus terminal, but also provides direct links to all of Toronto’s transit channels, including TTC Subway, GO Train, Via Rail, PATH and the UP (Union Pearson) Express. As part of the CIBC Square Project, the Bay East Teamway will be renovated to first-class standards and will provide direct immediate access to the GO Train platforms from the project. CIBC Square comprises two office buildings on a 2.9-million-ft2 downtown urban campus. The buildings will feature 49 and 50 floors respectively of office and collaborative spaces. It will accommodate the optimal densities that are required by today’s global office space users, and will offer expansive views of Lake Ontario and Toronto’s skyline.
The signature amenity of CIBC Square is a one-acre elevated park, spanning one of North America’s busiest railways to connect the two buildings at the 4th 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 famed Bryant Park.
“This project is a perfect example of how private and public partnerships can help reimagine Toronto and build up the city,” said John Tory, Mayor of Toronto. “This will provide a better experience for commuters, revitalize the entire area with a new elevated park over the railway and give a boost to the city.”
The first of the project’s two buildings, 81 Bay Street 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.