CIBC SQUARE is a 3 million-square-foot two-tower development that sets a new international standard of office building. Owned and developed jointly by Ivanhoé Cambridge and Hines, and managed by Hines, with a design by world-class architects Wilkinson Eyre and Adamson Associates, CIBC SQUARE offers unprecedented visibility in downtown Toronto located adjacent to Union Station, Canada’s busiest transportation hub. The transformative development is comprised of state-of-the-art offices, collaborative spaces, and a variety of Toronto’s best food and beverage offerings across two highly innovative office towers.

Among CIBC SQUARE’s most distinctive features is its one-acre elevated park that will span over the rail corridor connecting the towers’ fourth floors above street level, the first of its kind in Canada. The Park is currently accessible to the public and is activated with year-round programming.  Other amenities include direct links to all Toronto transit channels, a conference center, a first-class fitness facility, and bicycle storage. An activated food hall opened on the fourth floor of the first tower, serving unique, local cuisine from morning to evening. Along with the finest technology, wellness, and sustainability features, CIBC SQUARE is certified Platinum status across industry standards: LEED®, WiredScore & WELL Building Standards™.

In 2007, Ivanhoé Cambridge purchased 81 Bay Street (formerly 45 Bay), followed by a series of subsequent acquisitions of additional land and air rights over the rail corridor. A partnership with Metrolinx, Ontario’s regional transportation agency, solidified in 2014, paved the way for an iconic integrated office and transit development. The plan included a multi-phase, 3 million-square-foot premium office complex at 81-141 Bay Street, a new larger GO Bus Terminal, and an elevated park above the rail corridor.

The project’s complexity lay in integrating a bus terminal into a high-grade office building, requiring multi-year discussions with Metrolinx (transport authority). Wilkinson Eyre, a London-based architectural firm, was chosen as the design architect after an international competition.

In April 2017, Ivanhoé Cambridge and Hines became co-owners and investors, developing the project. Following an agreement with Metrolinx, the new GO Bus Terminal would be part of the initial project phase.
A key announcement was CIBC becoming the anchor tenant at the project. The complex – henceforth known as CIBC SQUARE – would serve as CIBC’s headquarters, accommodating around 20,000 employees. Construction on 81 Bay Street began in June 2017, and by November 2018, 81 Bay Street at CIBC SQUARE was nearly fully leased – over two years ahead of delivery and less than 17 months post-project launch.