A major investment by TD Bank Group will see the lender becoming part-owner of a new landmark development by Cadillac Fairview.
The building at 160 Front Street West in Toronto’s downtown core will include 33 floors occupied by TD on a long lease. The banking group will have an input on the building’s design and construction which will enable it to shape its space around a vision for improved workspaces for its colleagues.
"It's not every day that an organization has the chance to design, from the ground up, a new kind of workplace," said Paul Whitehead, SVP Enterprise Real Estate, TD. "The tower at 160 Front Street West will create a free range, open concept campus experience, and reimagine the work experience for our colleagues. This is a key part of our GTA real estate strategy to transform the way our employees work, and updates to support this are already underway at many of our locations in downtown Toronto, including our flagship TD Centre.”
TD’s 840,000 square feet is the majority of the 46-storey tower’s 1.2 million square feet, which will also feature 339 parking stalls, 492 bicycle stalls, and 12,290 square feet of retail space. The other major tenant is the Ontario Teachers’ Pension Plan.
The building is designed by world renowned Adrian Smith + Gordon Gill Architecture, in collaboration with B+H Architects as the Architect of Record and is slated to open in the fall of 2022.
“We are pleased to announce that 160 Front Street West is now 100 per cent leased. Closing out our leasing efforts with our long-standing partner, TD, is a significant occasion for our two companies,” said Wayne Barwise, Executive Vice President, Development, Cadillac Fairview. “Together, in 1967 CF and TD took a bet on the Toronto skyline with the opening of Toronto-Dominion Centre, forever changing the intersection of King and Bay Streets. I’m thrilled that over 50 years later we continue to collaborate, grow and innovate together.”
The transaction between TD, Cadillac Fairview, and The Investment Management Corporation of Ontario (IMCO) on behalf of Ontario Pension Board, is subject to usual closing procedures.
More market update: