Ivanhoé Cambridge and Hines break ground on CIBC Square at 81 Bay Street

TORONTO – CIBC Square, a project by Ivanhoé Cambridge and Hines, officially broke ground this morning during a special ceremony held on site at 81 Bay Street. Formerly known as Bay Park Centre, CIBC Square will feature two buildings and a one-acre elevated park over the rail corridor. 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.  

Breaking ground at the ceremony were Mayor of Toronto John Tory, Ontario Minister of Transportation and Member of Provincial Parliament (Vaughan) Steven Del Duca, Ivanhoé Cambridge Chairman and CEO Daniel Fournier, CIBC President and CEO Victor Dodig, Hines Canada CEO Kevin Shannahan, and Ivanhoé Cambridge President, Office, North America, Arthur Lloyd.

“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 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.

“This project is a perfect example of how private and public partnerships can help reimagine Toronto and build up the city. 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. Thank you to all those involved in getting us to today.” 

SOURCE Ivanhoé Cambridge