Ivanhoé Cambridge and Hines has partnered with Metrolinx to secure development approvals for a significant mixed-use office development at 45 Bay Street, known as Bay Park Centre. In April 2017, CIBC was announced as the new anchor tenant for this development.
The development includes a 49-storey, 1.3 million square foot office tower connected to Union Station, the City’s largest multi-modal transit facility. A new Metrolinx transit terminal will be located in the podium of the building, directly linked to Union Station through new PATH connections. A publicly-accessible open space will bridge the rail corridor, creating the City’s first elevated park over the rail corridor.
Urban Strategies has provided master planning and development approvals services to Ivanhoé Cambridge since they initially purchased the site in 2007. Urban Strategies worked closely with Ivanhoé Cambridge and Metrolinx to develop the complex mix of program on site, including coordinating with all levels of government to secure support and to coordinate the project. Urban Strategies undertook a series of due diligence analyses for various components of the property. We also assisted the architecture team with master planning and technical studies to refine the initial development options.
Urban Strategies coordinated the approvals process for the first phase of development. We are also working with the design team to prepare the development application for Phase 2, which will deliver a second major office tower at 141 Bay Street at the north side of the elevated park.
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