This morning Metrolinx and developer Ivanhoé Cambridge announced an ambitious new building project.
The Montreal-based developer plans to build two 48-story office towers, a GO bus terminal at the complex’s base and, perhaps most intriguingly, something it’s calling a “sky park” next to the Union Station rail corridor.
The office complex will be built at 45 Bay Street. The existing Union Station GO bus terminal at 141 will move from its current location at 141 Bay Street to the base of the future complex. Metrolinx sold the property its terminal currently occupies to developer Ivanhoé Cambridge and signed a long term lease with them at the new site to help facilitate the deal.
When it’s finished, the buildings will also be connected to Union Station and the PATH network.
The so-called “sky park” will be an elevated green space that will connect the fourth floors of the two office buildings. According to the developer, the space will have a restaurant once construction is completed.
Should everything go according to plan, construction on the $2-billion project will begin at the start of 2015 and will take the better part of three years to complete. [via Toronto Star]
Igor Bonifacic is the managing editor of Toronto Standard. Follow him on Twitter.