CIBC Square
{{Short description|Toronto skyscraper}}
{{Use mdy dates|date=March 2019}}
{{Infobox building
| name = CIBC Square
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| image = CIBC Square 2025-04-20.jpg
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| image_caption = CIBC Square in April 2025
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| map_caption = Location of CIBC Square in Toronto
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| former_names = Bay Park Centre
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| status = Topped out
| building_type = Office building
| architectural_style = Neomodern
| classification =
| address = 81 & 141 Bay Street
| location_city = Toronto, Ontario
| location_country = Canada
| coordinates = {{coord|43|38|39|N|79|22|39|W|region:CA-ON_type:landmark|display=title,inline}}
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| namesake = CIBC
| groundbreaking_date = June 21, 2017
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| est_completion = {{ubl|2021 (81 Bay Street)|2025 (141 Bay Street)}}
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| owner = {{ubl|Ivanhoé Cambridge|Hines}}
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| height = 241.3 m (81 Bay St.){{CTBUH|18559}}
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| floor_count = {{ubl|49 (81 Bay Street)|50 (141 Bay Street)}}
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| architecture_firm = {{ubl|WilkinsonEyre|Adamson Associates}}
| developer = {{ubl|Ivanhoé Cambridge|Hines}}
| main_contractor = EllisDon
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| website = {{URL|https://cibcsquare.com/}}
| public_transit = {{ubl|{{rint|gotransit}} Union Station|{{rint|toronto|1}} Union station}}
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CIBC Square (known during early stages of development as Bay Park Centre) is an office complex in the South Core neighbourhood of Toronto, Ontario, Canada. The complex, located on Bay Street south of Front Street, is a joint development between Ivanhoé Cambridge and Hines.{{cite news| url=http://www.cbc.ca/news/canada/toronto/cibc-square-bay-street-1.4171308| first=Kate| last=McGillivray| title=Construction kicks off on Bay Street mega-development, set to include towers, bus terminal, park| work=CBC News| date=June 21, 2017| accessdate=June 24, 2017}} It serves as the new global operational headquarters for the Canadian Imperial Bank of Commerce (CIBC), consolidating approximately 15,000 staff from several CIBC-tenanted buildings in the Greater Toronto Area, including its existing headquarters at Commerce Court.{{cite news| url=https://www.thestar.com/business/2017/04/12/cibc-to-move-head-offices-to-new-bay-park-development.html| title=CIBC to move head offices to new Bay Park Centre| first=Lisa| last=Wright| newspaper=Toronto Star| date=April 12, 2017| accessdate=April 12, 2017}} The development also includes the Union Station Bus Terminal constructed on behalf of Metrolinx for GO Transit, as well as other inter-city bus services, connected directly to Union Station,{{cite web| url=https://www.gotransit.com/en/the-future-go/improvements/union-station-bus-terminal| title=New Union Station Bus Terminal (USBT) at CIBC SQUARE| website=GO Transit| access-date=2021-11-11| archive-date=November 16, 2020| archive-url=https://web.archive.org/web/20201116200915/https://www.gotransit.com/en/the-future-go/improvements/union-station-bus-terminal| url-status=dead}} and a one-acre park elevated over the rail corridor.{{cite web| url=https://www.cibcsquare.com/| title=The Park| website=CIBC Square| access-date=November 11, 2021}}
Design
The approximately {{convert|3000000|sqft|sqm}} complex will consist of two towers to be completed in two phases.{{cite press release| date=March 31, 2021| url=https://www.ivanhoecambridge.com/en/news/2021/03/cibc-square-second-tower-groundbreaking-toronto/| title=Ivanhoé Cambridge and Hines Break Ground on CIBC SQUARE’s Second Tower in Toronto| publisher=Ivanhoé Cambridge| language=en| access-date=April 20, 2021}}
The 49 storey south tower (81 Bay Street) {{cite web| url=https://cibcsquare.com/work/81-bay-street/| title=81 Bay Street official page| website=CIBC SQUARE| access-date=November 5, 2024}} was completed first, built on the site of a former parking lot opposite the Scotiabank Arena. This tower includes the Union Station Bus Terminal for regional GO Transit and inter-city bus services, replacing the former terminal on Bay Street. A pedestrian skybridge links the complex to Scotiabank Arena and Union Station, expanding the PATH walkway system further south below the railway corridor – to the One Yonge Street complex and ultimately to the under-development Sugar Wharf project on the LCBO lands farther east.
{{cite news| last=Kalinowski| first=Tess| url=https://www.thestar.com/business/2018/01/11/sugar-wharf-developments-first-phase-to-put-8000-residents-1000-jobs-by-the-lake.html| title=Sugar Wharf development’s first phase to put 8,000 residents on Toronto’s waterfront| date=January 11, 2018| newspaper=Toronto Star| accessdate=April 13, 2019| url-status=live| archive-url=https://web.archive.org/web/20190413170538/https://www.thestar.com/business/2018/01/11/sugar-wharf-developments-first-phase-to-put-8000-residents-1000-jobs-by-the-lake.html| archive-date=April 13, 2019}} Attached to the tower is a four-storey podium housing CIBC's flagship retail bank branch.{{cite web| url=http://www.bayparkcentre.com/park-amenities/|title=Bay Park Centre Park & Amenities| publisher=Ivanhoé Cambridge| accessdate=April 12, 2017|archive-url=https://web.archive.org/web/20171210122448/http://www.bayparkcentre.com/park-amenities/| archive-date=December 10, 2017| url-status=dead}}
The 50 storey north tower (141 Bay Street) will be built on the site of the former GO Transit bus terminal, located behind the Dominion Public Building. The north tower is currently under construction and scheduled for completion in 2025.
At the fourth floor level, there is a one-acre, publicly accessible park, elevated over the railway corridor, with year-round activation and varied topography: slopes and hills, horticulture, gardens, shade groves, balconies, and vista areas.{{cite journal| url=https://urbantoronto.ca/news/2018/08/renderings-reveal-details-cibc-square’s-elevated-park| title=Renderings Reveal Details for CIBC SQUARE Elevated Park| journal=Urban Toronto| date=August 3, 2018| last=Landau| first=Jack| access-date=November 11, 2021}}
The fourth floor level also includes an operational food hall at 81 Bay Street, branded TABLE Fare + Social{{cite web |website=TABLE Fare + Social |url=https://www.tablefoodhall.com/ |title=TABLE Fare + Social |accessdate=November 5, 2024}} and a future food and beverage offering at 141 Bay Street.
The overall complex was designed by British architects WilkinsonEyre, and Adamson Associates of Toronto.{{cite web |website=Urban Toronto |url=http://urbantoronto.ca/database/projects/cibc-square |title=CIBC Square |accessdate=March 12, 2019}}
File:CIBC Square.jpg| CIBC Square Logo
CIBC Square Office Lobby view 2022.jpg|Office Lobby
CIBC Square Level 3 2022.jpg|Level 4 cafe and common area
CIBC Square Level 3 Open Space 2022.jpg|Rooftop garden at Level 4
CIBC Square TABLE Fare + Social Food Hall inside 2023.jpg|TABLE Fare + Social Food Hall at Level 4
Bridge Access to CIBC Square 2021.jpg|Bridge access artwork by Nicolas Baier
History
File:CIBC Square from Harbour Street - 20190312.jpg
The development is being co-led by Ivanhoé Cambridge and Hines using land acquired from Metrolinx (as well as city-owned Toronto Parking Authority parking lot), and designed by British architectural firm WilkinsonEyre and Adamson Associates of Toronto. Ivanhoe Cambridge bought 81 Bay Street (formerly 45 Bay Street) in 2007 and later acquired additional land and air rights over the rail corridor. In September 2014, Ivanhoe agreed with Metrolinx to build the new GO Bus Terminal at 81 Bay Street.{{cite press release |title=Ivanhoé Cambridge and Hines acquire 141 Bay Street from Metrolinx |date=April 12, 2017 |publisher=Ivanhoé Cambridge |url=https://www.ivanhoecambridge.com/en/news-and-media/news/2017/04/metrolinx |accessdate=September 12, 2018}}{{Cite web |last=Matanis |first=Marc |date=30 September 2014 |title=New GO Bus Terminal Slated for Massive 45-141 Bay Development |url=https://urbantoronto.ca/news/2014/09/new-go-bus-terminal-slated-massive-45-141-bay-development.14088 |access-date=2023-08-15 |website=urbantoronto.ca}}
CIBC was announced as the anchor tenant of the south tower (81 Bay Street) in April 2017,{{Cite web |last=Landau |first=Jack |date=12 April 2017 |title=CIBC Announced as Anchor Tenant for Bay Park Centre |url=https://urbantoronto.ca/news/2017/04/cibc-announced-anchor-tenant-bay-park-centre.26313 |access-date=2023-08-15 |website=urbantoronto.ca}} with construction beginning in June 2017.{{Cite web |last=Novakovic |first=Stefan |date=21 June 2017 |title=Bay Park Centre Unveiled as 'CIBC Square' at Ground Breaking |url=https://urbantoronto.ca/news/2017/06/bay-park-centre-unveiled-cibc-square-ground-breaking.27473 |access-date=2023-08-15 |website=urbantoronto.ca}} The south tower was scheduled to open in 2020 but was delayed until summer 2021.{{cite web |last=Landau |first=Jack |date=August 6, 2021 |title=CIBC SQUARE South Tower Welcomes Tenants as North Tower Work Advances |url=https://urbantoronto.ca/news/2021/08/cibc-square-south-tower-welcomes-tenants-north-tower-work-advances |accessdate=November 11, 2021 |journal=Urban Toronto}} The Union Station Bus Terminal opened in December 2020.{{Cite web |date=December 4, 2020 |title=New Union Station Bus Terminal to Officially Open |url=https://news.ontario.ca/en/release/59476/new-union-station-bus-terminal-to-officially-open |access-date=December 6, 2020 |website=Government of Ontario}}
Construction on the north tower began in March 2021. The north tower was topped out in January 2025.{{Cite web |date=2025-01-28 |title=Hines, Ivanhoé Cambridge near completion of CIBC SQUARE with topping out of 141 Bay Street |url=https://www.cdpq.com/en/news/pressreleases/hines-ivanhoe-cambridge-near-completion-cibc-square-topping-out-141-bay-street |access-date=2025-03-07 |website=CDPQ |language=en}}
Key tenants
81 BAY STREET
- CIBC is the anchor tenant of the complex.
- Microsoft Canada has moved into the facility for its Canadian headquarters at 81 Bay Street from 1950 Meadowvale Boulevard in Mississauga.{{cite news| url=https://thecanadiantechie.com/2018/09/11/microsoft-canada-announces-new-headquarters-in-downtown-toronto/| title=Microsoft Canada announces new headquarters in downtown Toronto| date=September 11, 2018| journal=TheCanadianTechie| access-date=September 11, 2018| language=en-US}}{{cite web| url=https://www.linkedin.com/pulse/microsoft-canada-moves-heart-downtown-toronto-kevin-peesker/| title=Microsoft Canada Moves to the Heart of Downtown Toronto| date=September 11, 2018| first=Kevin| last=Peesker| website=LinkedIn}}
- Boston Consulting Group has its Canadian headquarters in CIBC SQUARE.{{cite press release| url=http://www.newswire.ca/news-releases/the-boston-consulting-group-to-move-into-cibc-square-636474393.html| title=The Boston Consulting Group to move into CIBC Square| date=July 25, 2017| via=Canada Newswire| language=en| access-date=2021-11-11}}
- AGF Management is also leasing office spaces at 81 Bay Street.{{cite press release| url=https://www.ivanhoecambridge.com/en/news/2018/10/agf-moves-toronto-headquarters-to-cibc-square/| title=AGF Moves Toronto Headquarters to CIBC SQUARE| date=October 24, 2018| via=Ivanhoé Cambridge| language=en| access-date=2024-11-05}}
- TABLE Fare + Social occupies a portion of the fourth floor level.{{cite web |website=TABLE Fare + Social |url=https://www.tablefoodhall.com/ |title=TABLE Fare + Social |accessdate=November 5, 2024}}
- The Union Station Bus Terminal is located at 81 Bay Street. It replaced a previous bus terminal located on the site where the north tower is being built (141 Bay Street).{{cite web |website=Union Station GO TRANSIT |url=https://www.gotransit.com/en/find-a-station/un/un-new-union-station-bus-terminal-usbt-at-cibc-square |title=Union Station GO |accessdate=November 5, 2024}}
141 BAY STREET
- CIBC is also the future anchor tenant at 141 Bay Street.
- The tower will also include a four-storey retail space.{{cite web |website=CIBC SQUARE |url=https://cibcsquare.com/work/141-bay-street/ |title=141 Bay Street page |accessdate=November 5, 2024}}
References
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External links
{{commons category|CIBC Square}}
- {{Official |https://cibcsquare.com/}}
- [https://www.hines.com/properties/cibc-square-toronto Hines webpage for CIBC Square]
- [https://www.tablefoodhall.com/ TABLE Fare + Social] (food hall on 4th level)
{{Toronto skyscrapers}}
Category:Bank headquarters in Canada
Category:Buildings and structures in Toronto
Category:Modernist architecture in Canada
Category:Skyscrapers in Toronto
Category:Canadian Imperial Bank of Commerce
Category:Skyscraper office buildings in Canada
Category:Hines Interests Limited Partnership
Category:Buildings and structures under construction in Canada