Canadian investor Ivanhoé Cambridge is helping to build an office complex and new infrastructure that will transform an area of downtown Toronto.
The subsidiary of Caisse de dépôt et placement du Québec is working with Ontario’s regional transport agency Metrolinx to create the integrated office and transit development.
The “transit-oriented” project will centre on a LEED Platinum certified, 2.7m sqft office complex at 45-141 Bay Street, which will include an expanded bus terminal below and an elevated park with new public spaces above ground.
Ivanhoé Cambridge is developing the office building with Hines Canada Management. The companies have developed projects together before in Calgary, Paris and Chicago.
“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 CEO of Ivanhoé Cambridge.
Metrolinx chair Robert Prichard said the project would “bring bus and train services to a centralised location, allowing for improved transit options and an improved customer experience.”