CIBC SQUARE

Urban Strategies is proud to play a leading role in the development of CIBC Square. Over ten years ago, Ivanhoé Cambridge and Hines partnered with Metrolinx to advance a landmark mixed-use office development at 81 and 141 Bay Street. In 2017, CIBC was announced as the anchor tenant, securing the project’s position as a new centre of business activity directly connected to Union Station, Toronto’s largest multi-modal transit hub.

This two-tower development delivers nearly 3 million square feet of premium, transit-integrated office space and represents a significant reinvestment in the City’s core. A key early accomplishment was the successful relocation of the former Metrolinx GO bus terminal into the podium of the first tower at 81 Bay, unlocking the ability to proceed with the second phase at 141 Bay Street. With Phase 1 complete—and the GO Transit bus terminal and Bay Street Scotiabank PATH Bridge fully operational—the project is already reshaping how people move through and experience downtown.

Now nearing completion, Phase 2 will further expand Toronto’s PATH network with new above-grade pedestrian connections spanning both Bay and Yonge Streets. These links will seamlessly integrate Union Station, the Backstage Condominium, and surrounding destinations, significantly enhancing pedestrian circulation and accessibility in the heart of the city. At full build-out, a publicly accessible open space will bridge the rail corridor, joining Phases 1 and 2 to create Toronto’s first elevated park over the rail corridor—a bold new amenity for workers, residents, and visitors.

 Since the site’s acquisition in 2007, Urban Strategies has led master planning and development approvals for the project, shaping its vision and execution from inception. We have coordinated closely with Ivanhoé Cambridge, Hines, Metrolinx, and three levels of government to advance the complex development program through planning, heritage, infrastructure and transit approval processes on a highly constrained site.

Urban Strategies secured the full suite of approvals for Phase 1, and subsequently led the zoning approvals for Phase 2 at 141 Bay Street. Our team continues to shepherd the development through its final approvals—including the TTC Technical Review, Site Plan Approval, and Parks Canada Heritage Review—ensuring this landmark project proceeds with the coordination and excellence that define our practice.

Read more about the project at Urban Toronto.