CIBC Square Phase 2 now complete

CIBC Square Phase 2 at 141 Bay Street has officially opened its doors, marking the final chapter in one of Toronto’s most ambitious commercial developments.

The milestone follows the completion of the first phase at 81 Bay Street in 2021. Rising 49 storeys, the south tower introduced a mix of premium office space, trading floors, conference facilities, retail destinations, restaurants, and significant transit infrastructure improvements. 

The newly completed north tower at 141 Bay Street rises 50 storeys, completing the campus and connecting the project to adjacent to Union Station.

Designed by WilkinsonEyre Architects in collaboration with architect of record Adamson Associates for developers La Caisse and Hines, the two-tower development has become a defining feature of Toronto’s skyline. Both buildings feature lightly folded glazed façades that create a repeating diamond geometry at every ten-floor interval, giving the towers a distinctive architectural identity.

“CIBC SQUARE presented an extraordinary opportunity to rethink how large commercial developments can contribute to the life of the city,” says Dominic Bettison, Director at WilkinsonEyre. “Rather than treating infrastructure as a barrier, the project embraces it as an organizing element that connects transit, landscape, workplace, and public space into a seamless urban experience. The development creates a new gateway into downtown Toronto while extending the energy of the financial district toward the waterfront.”

The development’s most unique feature is its one-acre elevated park space, which spans directly above active railways and links the two towers. Developed in collaboration with landscape architects Public Work, the space is scheduled to fully open later this year and will offer year-round public programming, green space, and gathering areas in the heart of downtown Toronto.

“From the outset, the public realm strategy was fundamental to the success of the masterplan,” says Dominic Bettison. “The creation of three new public plazas, connected by the elevated sky park and a new urban laneway, helped integrate a development of this scale into Toronto’s existing urban fabric. We sought to create a network of connected destinations that strengthen pedestrian movement, support everyday public life, and reconnect the financial district with the waterfront.”

“The completion of the CIBC Square North Tower and the elevated park is an inspiration of north-south connectivity," says Tim Kocur, Executive Director of the Waterfront BIA.  "Our waterfront has benefitted greatly from expansion of the Financial District southward, but the Gardiner Expressway and rail yards remain a barrier that’s difficult to ignore. The elevated park is a visual nod to crossing those barriers and we look forward to seeing more improvements in Toronto that this encourages, including the City and Bentway’s Under Gardiner corridor improvement plans.” 

Sustainability and occupant wellness were also central to the project’s design objectives, with CIBC Square achieving both LEED Platinum and WELL Platinum certifications.

Located above one of Canada’s busiest transportation corridors, CIBC Square brings together commercial office space and public realm improvements in a highly connected urban setting. With the completion of 141 Bay Street, CIBC Square stands as a significant addition to Toronto’s evolving skyline and one of the most ambitious development projects in the city’s history.